Siparex, BPI France sell Duralex to trade

The deal took place in July 2020, Capital Finance reported.

The firms have wholly exited their stakes in the business.

In February 2015, Siparex and BPI France provided capital of €3m to Duralex, as part of a secondary management buyout from Initiative & Finance, with Siparex investing via its Nord-Ouest Entrepreneurs 4 fund. The company's CEO, Xavier Sebaux, also invested in the business. Duralex reported turnover of €5.7m at the time of the investment.

Debt was provided by BRED Banque Populaire and Crédit Mutuel's Banque Commerciale du Marché Nord Europe.

Previous funding
Initiative & Finance acquired a 66% stake in Duralex in 2006, with NSM and BRED providing debt to support the buyout.

Company
Founded in 1950, Duralex produces paint for a range of uses, including interior walls and outdoor facades. It also provides rust-proof and water-repellent paint. The company is based in Bobingy and reports revenues of €6m.

People
Duralex Peintures – Xavier Sebaux (CEO).
Siparex –Marlène Rey (senior investment manager).
BPI France – Ménelé Chesnot (investment director).

Advisers
Vendor – Mazars Corporate Finance, Matthieu Boyé, Antoine Havret (corporate finance); Joffe & Associés, Christophe Joffe, Johann Mendez (legal).
Acquirer – IRD Gestion, Laurent Deswarte, Louis Labriffe (corporate finance); EY, Benoît Losfeld, Julien Delory (legal); KPMG, Clément Lefort, Jeanne Levant, Candice Petitmangin (financial due diligence).

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• France
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• Trade sale
• France
• Siparex
• BPI France