MBO Partenaires backs Laboratoires Embryolisse

Francesca Veronesi
04 July 2018

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MBO Partenaires has acquired a minority stake in skincare and cosmetics business Laboratoires Embryolisse, with management reinvesting in the business.

The company's president Alain Cassam-Chenaï and director Nazoura Cassam-Chenai have retained stakes in the business.

The French GP has provided a €16m ticket for the transaction. Embryolisse is valued between €50-100m, according to a statement.

It drew capital from MBO Capital IV, which closed in 2016 on €250m and is currently 50% deployed.

Debt for the transaction was provided by Palatine bank, the company's historical debt provider, as well as Banque Populaire Val de France and Crédit Agricole Ile-de-France. The debt package equates to less than 3x EBITDA.

The investment from MBO Partenaires will help Embryolisse to consolidate its exposure in pharmacies and parapharmacies in France and abroad, and to structure its distribution through e-commerce channels.

Company
Embryollise is a skincare and cosmetics business selling seven ranges of products.

Founded in 1950 and based in Issy-les-Moulineaux, the business generated a €13m turnover in 2017 and expects to post revenues around €25-30m in 2018.

People
MBO Partenaires – Cécile Nguyen-Cluzel (partner).
Laboratoires Embryolisse – Alain Cassam-Chenaï (president); Nazoura Cassam-Chenai (director).

Advisers
Equity – Lamartine Conseil, Olivier Renault, Bintou Niang, Cindy Nlem Ndongo, Solange Ducos (legal); Emilie Renaud (financial due diligence); Oderis Consulting, Aurélien Vion, Benjamin Supiot, Antoine Hugé (corporate finance); Selescope, Damien Leblond, Pierre Mage (commercial due diligence).
Company – Toison Villey & Broud, Sophie Brassart, Marie Toison (legal).