Ouest Croissance, Unexo take minority stake in Kiclos

Ouest Croissance (Banque Populaire's investment arm) and Unexo (Crédit Agricole's investment arm) are supporting the management buyout led by three company executives: Ronan Scotet, CEO; Françoise L’Helgoualc’h, deputy director; and Sébastien Priour, director of recruitment and training.

The three members are also accompanied by Frédéric Duégain, son of founder M Daniel Duégain, who led the group until the buyout. Both investors are taking an equal minority stake in the group, a company statement read.

With their support, Kiclos will look to improve its business development across France.

Debt
A senior debt package arranged by Arkea Banque Entreprises et Institutionnels and CIC supported the transaction.

Previous funding
In 2008, MBO Partenaires acquired a minority stake in group Kiclos. According to unquote” data, the GP's stake amounted to 45%. The group registered €21m in revenues at the time.

Company
Based in Brest and created in 1991, Kiclos is a building materials and fixtures group specialised in windows, shutters and portals, mostly intended for private use.

In 2015, the group registered €18.5m of turnover and counted 178 staff. Kiclos currently operates across six sites in France: Brest, Quimper, Lorient, Vannes, Saint Brieuc and Nantes.

People
Ouest Croissance – Adeline Drogou, Didier Chaboche (investment directors).
Unexo – Maryan Deroo (associate).

Advisers
Equity – Cornet Vincent Segurel, André Watbot (legal); Les Conseils d’Entreprises, Yves Larher (legal).
Vendor – Invest Corporate Finance, Vincent Behr, Maxime Bazin (corporate finance).

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• Topics
• Buyouts
• Exits
• France
• France
• Secondary buyout
• MBO Partenaires
• Ouest Croissance