Andera exits VMI Jokon to management

Andera Partners' ActoMezz division was in charge of the investment. The operation sees a pool of lenders composed of Crédit du Nord, Société Générale, LCL, Arkéa and Schelcher Prince Gestion provide financing to the business.

The company was founded in 2009, when VM Industries was created by HIG after the GP carved the firm out from French automotive company Molex.

In 2012, in search of diversification of its activities and opportunities for synergies, the group acquired Jokon, which specialises in the production and distribution of outdoor lighting systems for small series vehicles. Jokon has two production sites in Bonn (Germany) and Folschviller (France).

The management team owned a 10% stake in VMI Jokon when ActoMezz backed its MBO in 2016. The transaction saw Marc Laisné and his management team acquire a 75% majority stake in VMI Jokon, while Andera, via Actomezz, bought a minority stake and provided mezzanine debt for the transaction, Unquote previously reported.

Company
The HVJ group comprises VMI, which designs, develops and produces electrical connectors for the automotive industry, and Jokon, a German leader in the manufacturing of small series vehicle lighting. The automotive equipment manufacturer generated €40m in revenue during 2018 and employs 250 staff in France and Germany.

People
Andera Partners - Laurent Fichter (partner), Jean-Baptiste Bessieres (director).

Advisers
Company - Clearwater International, Laurence de Rosamel (managing director debt advisory), Léa Joly (analyst), Alexis Bellot (analyst).

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• Topics
• Exits
• France
• Industrials
• France
• Andera Partners
• Management buyback