Ardian buys minority stake in Euro 4x4 Parts

Harriet Matthews
23 April 2020

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Ardian has bought a minority sake in France-based automotive parts and accessories retailer Euro 4x4 Parts.

The deal follows an M&A process after the GP's first contact with the company in early 2019.

The remaining shareholder base comprises the company's founders and management.

The investment was structured via a capital increase, along with acquisition debt provided by CIC, Banque Postale and Banque Populaire.

Euro 4x4 Parts announced the acquisition of B2B-focused Asian SUV parts supplier Japocat along with the investment from Ardian. The acquisition was also financed with debt facilities. Japocat was established in 1996 and generates revenues of €10m. It is based in Toulouse, has 30 employees and handles 85,000 shipments to customers per year, according to a statement.

The acquisition of Japocat will strengthen Euro 4x4 Parts' presence in the Spanish and northern European markets, and will also expand its distribution capabilities, according to a statement.

Ardian held a final close for its most recent growth fund, Ardian Growth II, in April 2018 on €230m, but the investment in Euro 4x4 Parts was not made from this vehicle, Unquote understands.

Company
Euro 4x4 Parts imports and sells auto parts and accessories for 4x4s and SUVs. Its client base includes private individuals as well as businesses and professionals in 150 countries. Founded in 2000, the company has 80 employees. The company is based in Sainte-Marie-de-Gosse and has eight locations in total. It generates revenues of €14m and 46% of this turnover is generated via its website.

People
Ardian – Frédéric Quéru (director); Florian Dupont (senior investment manager).
Euro 4x4 Parts – Georges Graciet (president).

Advisers
Equity – Star Capital, Amaury Desombre (M&A); Lamartine Avocats, Olivier Renault, Cindy Nlem, Solange Duclos (legal); Grant Thornton, Alain-Régis Grail, Pierre Aubrun, Alexandre Garel-Galais, Laurent Mottet (financial due diligence).
Company – CIC Conseil, Marc Goudemand, Antoine Cucciaioni, Jacques Schwab (M&A); Rieu-Castaing Emmanuel (legal).