Sodero joins Ixo in Loubat capital structure reshuffle

Inked in late July, the deal will allow Ixo to partially realise its investment while management team members become shareholders alongside CEO Jean-Luc Rivat. Ixo reinvested as part of the transaction, which sees the two financial backers secure a "significant" stake in the business alongside the management team.

Ixo backed the management buyout of Loubat in 2006, allowing Rivat to become a shareholder while the founders sold their stakes. Ixo held a majority stake following the deal.

Sodero drew equity from its Transmettre & Pérenniser fund. Helia Conseil arranged a senior debt package for the deal, with participation from Caisse d'Epargne Aquitaine Poitou Charente and Crédit Agricole d'Aquitaine.

Company
Based in Sainte Livrade-Sur-Lot, Groupe Loubat specialises in bespoke shutters, blinds and garage doors. It mainly targets businesses, building fixtures distributors and home construction companies.

The business generates revenues of €20m.

People
Groupe Loubat – Jean Luc Rivat (CEO).
Ixo Private Equity – Olivier Athanase (associate director); Nicolas Olivès (investment director); Marie-Laure Joubard (chargé d'affaires).
Sodero Gestion – Jean-Philippe Dupont (board member); Geoffrey Nguyen (project manager).

Advisers
Vendors – Mazars Corporate Finance, Matthieu Boye, Olivier Schantz, Valentin Desdoits (corporate finance); Fidal, Patricia Cazalis, Rémy Boix (legal).
Equity – PwC, Jacques Darbois, Sally-Anne Mc Mahon (legal); Grant Thornton, Alban Audrain, Cyril Cagic (financial due diligence).

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• Topics
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• Buyouts
• France
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• France
• Secondary buyout
• Sodero
• Mazars
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