Capital Croissance buys MCC from Abénex

Existing backer BPI France reinvested the entire proceeds from the sale back into the business, while CEO Julien Vagner and president Stephane Wimez increased their stakes in the company.

Abénex invested in MCC via its France Transmission Fund in 2013, in an MBI that supported a managerial change within the company's leadership, with the entrance of Vagner and Wimez. The new management team was also backed by BPI France.

Under Abénex's ownership, the company scaled up its team, accelerated its digital transformation and improved its logistic efficiency. It also expanded its product offering and launched Eden - Mehari Electrique. MCC increased its revenues by 8% per year between 2017 and 2020, its digital sales to 60% of the total and its export to 20%.

Company
Established in 1992 and based in Cassis, MCC is a manufacturer and retailer of spare parts and accessories for vintage Citroën cars, primarily the Méhari, 2CV and Dyane models.

The company focuses on manufacturing original spare parts, including transmission, brake, steering, chassis and bodywork parts; reconditioning Citroën twin-cylinder engines; and designing, assembling and distributing the electric Méhari Eden and the electric conversion kit R-Fit.

MCC generated revenues of €17m in 2019.

People
Capital Croissance – Eric Neuplanche (president).
Abénex – Christian Dorléac (partner).
Méhari Club Cassis – Stephane Wimez (president); Julien Vagner (CEO).

Advisers
Vendor – Invest Corporate Finance (corporate finance); Advention (commercial due diligence); Advance Capital (financial due diligence); Alerion (legal).

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