Initiative & Finance backs Extruflex SBO

The deal was arranged in order to manage the retirement of company president Jacques Vialat, who took over the business as part of a management buyout backed by A Plus Finance and Sofipaca in 2013. The debt package was at the time provided by LCL along with co-arrangers Credit Agricole Centre Est and Banque Populaire.

Chequers Capital had invested in the buyout of Extruflex from Bridgepoint Capital and Electropar for an undisclosed sum in 2003, before exiting as part of the 2013 MBO.

A Plus Finance will reinvest alongside I&F in order to keep backing the company's growth, according to a statement.

Debt
The lenders pool for this transaction remains broadly unchanged from the 2013 MBO, with LCL arranging the package while Banque Populaire, Credit Agricole and Caisse d'Epargne also took part.

Company
Founded in 1960, Extruflex specialises in flexible vinyl products. Its products are used in a variety of commercial and industrial applications, notably for strip doors, plastic partitions and thermal insulation. The company generates a turnover of €26m, against €23m at the time of the 2013 MBO.

People
Initiative & Finance – Jean-Michel Laveu, Solenne Watin-Augouard.
A Plus Finance – Tuan Tran, Mia Lauranti.

 

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• Secondary buyout