Motion Equity to take Olmix private

The GP, alongside Amadéite (the holding company of Olmix founder Hervé Balusson), has acquired a majority stake in the business.

The investment includes a capital increase and will allow the two investors to reach control of 95% of the share capital and voting rights of Olmix via a newco named Bioalg Holding.

Following the deal, Bioalg Holding will launch a voluntary offer at a price of 580 euro cents per share, with the aim of delisting the company from the Euronext by the end of 2020.

Pending the launch of this offer, the suspension of the listing of Olmix shares, which was issued in October, will be maintained.

The investment made by Motion Equity should allow the group to fully resume its activities and continue its deleveraging, with a return to profitability. The disposals of certain activities can also be considered in the medium-term, according to a statement from the company.

Company
Founded in 1995 and based in Bréhan, Brittany, Olmix develops natural alternatives to chemical pesticides, fertilisers and nutritional ingredients for the agriculture, farming and food industries.

Its products are based on algae, trace elements, clays and organic ingredients, and are sold in more than 100 countries worldwide through distributors and partners.

The group employs 650 people. It generated EBITDA of €4.4m from revenues of €137m and reported a net loss of €9.6m in 2019.

People
Olmix – Hervé Balusson (founder).
Motion Equity Partners – Patrick Eisenchteter (managing partner).

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