Ardian exits Brico Privé in SBO

France-based GP Florac typically provides equity tickets in the €20-150m region. 

UK- headquartered Kartesia acquired a minority stake of less than 10% in the company, Unquote understands.

Brico Privé's founders Julien Boué and Marc Leverger will retain a stake in the business, a source close to the deal disclosed. 

Kartesia also provided debt for the transaction in the form of a unitranche package via Kartesia Credit Opportunities IV. The vehicle typically offers debt packages in the €10-60m region, according to Unquote Data. 

The business intends to consolidate its presence in France, accelerate its international expansion and improve B2B operations. 

Previous funding 
Ardian first acquired a minority stake in the business in 2015, investing around €2.5m, after a partial exit by the company's previous minority shareholders. Ardian drew equity from its Ardian Croissance Fund, which held a final close on €70m in 2014 according to Unquote Data.

The following year, Ardian injected an additional €5m into the capital structure of the e-commerce business, complemented by a €2m contribution from BPI France. The new funding was aimed at sustaining the company's growth both domestically and abroad, in Spain and Italy especially.

Under Ardian's ownership, Brico Privé bolted on two companies – electric tools distributor Racetools in September 2017 and e-commerce marketplace Noova in November 2017.

Company 
Founded in Toulouse in 2012, Brico Privé manages a website for private sales dedicated to DIY, gardening and home improvement products. The company operates in the French, Spanish and Portuguese markets, and organises private sales of brands such as Grohe, Bosch, Legrand, Ryobi and Dewalt.

The company has a workforce of 180. Brico Privé is expected to generate a turnover of  €100m in June 2018. 

People
Brico Privé – Marc Leverger, Julien Boué (co-founders).
Ardian – Laurent Foata (head of Ardian Growth); Romain Chiudini (director).
Kartesia – Matthieu Delamaire (managing partner); Jean Diercxsens (investment manager). 

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• Topics
• Exits
• France
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• France
• Ardian (formerly Axa PE)
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