Wise’s Colcom bolts on Sadev

The transaction saw the GP provide capital alongside the management team to support the merger, according to a source familiar with the situation.

As part of the deal, Wise retains a 96% stake in the business, while Sadev’s CEO Frederic Fievet and Colcom's management team will hold the remaining stake, said the source. Following the merger, the group expects to generate turnover of €30m within the next two years.

Colcom, which produces hinges, locks and fasteners for doors and panels, posted a turnover of €16m in 2016. It aims to extend its product range, which currently focuses on indoor glass panes, with the addition of outdoor devices. It hopes to boost its penetration across the Italian market.

Previous funding
In May 2014, Wise backed the company's MBO from the founding Collio family via its 2010-vintage Wisequity III vehicle, which held a final close on its €180m hard-cap in September 2011. As part of the deal, the management team acquired a minority stake in the business.

Company
Headquartered in Annecy, Sadev specialises in fastenings of outdoor glass panes, facades and balustrades. According to a statement, the company generated €7m in revenues and €1m EBITDA in 2016.

People
Sadev – Frederic Fievet (CEO).
Colcom Group – Gabriele Basile (CEO).

Advisers
Acquirer – Simmons & Simmons (legal); Spad Partners (tax).

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• Topics
• Expansion
• Industrials
• France
• France
• Wise SGR
• Build-up
• Acquisition finance