Activa's Atlas for Men refinances one year after carve-out
Activa-backed clothing brand Atlas for Men has refinanced its debt to pay off its mezzanine funding and provide partial reimbursement of shareholder funds.
The new financing is provided by the existing banking pool set up in 2016 as part of its carve-out from De Agostini. CIC Nord Quest was the arranger, while BNP Paribas and Crédit Agricole Seine-Normandie also took part. This time around they were joined by Caisse d'Epargne Normandie.
Previous funding
In August 2016, Altas for Men span out from De Agostini in a deal led by Activa Capital alongside the management team. They were accompanied by Initiative & Finance and Indigo Capital, which provided mezzanine debt financing. Activa holds a majority stake in the company.
Company
Founded in 1999 as part of Groupe De Agostini, Atlas for Men is a men's brand of outdoor clothing and accessories, sold online and via catalogue. It operates in 10 European countries and generates around €160m in sales.
People
Activa Capital – Christophe Parier, Pierre Chabaud (partners); Frédéric Singer (manager).
Atlas for Men – Marc Delamarre (CEO); Serge Lemarchal (CFO).
Advisers
Equity – Canaccord Genuity (corporate finance).
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