Isatis Capital backs Pure Trade Worldwide in MBO

The MBO transaction saw managing directors Stefane Ladous, Bruno Rozenfeld and Michel Boiron increase their stakes.

Moreover, Initiative & Finance, which has been invested in the company since 2015, also increased its stake in the business.

Isatis used its Crescendo fund for the transaction, which held a first close on €42m in November 2017. The fund has a target of €100m and a hard-cap of €120m, according to Unquote Data.

Senior debt for the transaction was provided by Caisse d'Epargne Ile-de-France and Banque Neuflize OBC.

Company
Founded in 1996, Pure Trade designs and produces promotional boxes, packaging and accessories for luxury brands. The group focuses on the perfumery and cosmetics sectors; its clients include Dior, YSL, Thierry Mugler and Paco Rabanne. Pure Trade Worldwide currently employs 55 people in France, the US, the UK, Hong Kong and China, with headquarters in Paris. It generated a turnover of €40m in 2017.

People
Isatis Capital – Laurent Baudino (managing director); François-Xavier Lehman (director).
Initiative & Finance – Arnaud Mendelsohn (managing director); François Golfier (chargé d'affaires).

Advisers
Equity – Grant Thornton, Nicolas Verrier, Jonathan Delangle (financial due diligence); Lamartine Conseil, Olivier Renault, Fabien Mauvais (legal).
Company – NFinance Securities, Maxime Dugast (financial due diligence); Joffe & Associés, Thomas Saltiel, Charlotte Viandaz (legal).

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