BPI France, Socadif and Nord Capital invest in Alvène

Nord Capital has increased its shareholding as part of the deal, having invested in the company in 2013.

The fresh capital will be used to invest in Alvène's production facilities in northern France and to grow the business both domestically and in neighbouring countries.

Crédit Agricole, Societe Generale, BNP Paribas and CIC provided debt facilities to support the deal.

Previous funding
Nord Capital invested in the company in 2013 and was joined by SCR Turenne Investment, a structure owned by Nord Capital co-owner Turenne Capital. Together they invested €4.6m of funds excluding debt. As with the latest transaction, debt for the original deal was provided by Crédit Agricole, Societe Generale, BNP Paribas and CIC.

Two individual investors exited their shareholdings while Denis Van Litsenborgh and Olivier Richard increased their shareholding.

Company
Founded in 2001, Alvène manufactures ventilation systems for large professional kitchens. It generates annual revenues of €14m, mostly from domestic sales, and is based in Doullens in northern France.

People
Alvène – Denis Van Litsenborgh, Olivier Richard (founders).
BPI France – Francis Estellat (senior investment director);  Nicolas Sluys (investment manager).

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• Topics
• Buyouts
• France
• Industrials
• France
• BPI France
• Nord Capital Investissement (Participex)
• Socadif