Orium, JFC Industries exit Ocedis

Orium and JFC had been majority owners since 2009. Ocedis CEO Claude Hardy will take back a majority stake in the business, having previously held around 20% of the share capital.

The deal also sees three new backers invest in Ocedis, acquiring a minority stake: Capital Transmission (Banque Cantonale de Genève's investment arm), A Plus Finance and Somudimec.

With Orium's and JFC's backing, Ocedis pushed its international development, expanding across Europe and into the African continent, with subsidiaries recently launched in Morocco and Senegal. The company's turnover increased from €18m to €25m over the holding period.

Debt
A senior debt package arranged by Crédit Agricole, Banque Populaire, CIC Lyonnaise de Banque, Caisse d'Epargne, Banque Palatine and Crédit Coopératif supported the transaction.

Company
Founded in 2003 by Claude Hardy, Ocedis manufactures swimming pool and water treatment products and equipment. Its products include pH regulators, water analysis materials, cleaning robots and maintenance accessories.

Based in Trevoux, France, Ocedis employs 60 people and generated €25m in revenues in 2016.

People
Capital Transmission – Virginie Fauveau (managing director); Frédéric Tixier (investment director).
A Plus Finance – Romain Bled (investment director); Mia Lauranti (investment manager).
Somudimec – David Jomain (founder).
Orium – Guy Van Der Mensbrugghe (CEO); Maud Lehman (investment director).
JFC Industries – Jean-François Chêne (chair).

Advisers
Equity – Advance Capital, Arnaud Vergnole, Corentin Thevenon (financial due diligence); Lamy Lexel, Alexandre Bideau, Julie Thomas (legal).
Vendor – Societex Corporate Finance, Thomas Beaurain, Bénédicte Ciotti (corporate finance); DLA Piper, Jeremy Scemama, Julien Boubal (legal).

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