LBO France secures Alliance Marine takeover from Weinberg

Completion of the transaction is subject to the approval of the competition regulator. News portal Capital Finance reported that the deal, which will be financed with a unitranche financing arranged by Goldman Sachs, values the target at around EUR 200m (x10 EBITDA).

LBO France and fellow GP PAI Partners reached the second round of the auction earlier this month, as reported.

The France-based business was marketed based on EBITDA of EUR 15m-20m, as previously reported. When Weinberg acquired the business in 2016, the company generated around EUR 8m-9m in EBITDA, according to the aforementioned report.

Previous funding
Under Weinberg's ownership, Alliance Marine went on a bolt-on shopping spree: in 2017, it bought French company Midinox and German firm Bukh Bremen, as per boatindustry.com.

This was followed by the acquisition of Italy-based FNI in 2018. Bukh Bremen and FNI were the first international expansion transactions made by the company, according to a statement by Weinberg. After the acquisition of UK-based 3SI in 2018, the group was generating EUR 170m in sales and had 700 employees, according to a statement by the company.

Subsequently, Alliance Marine acquired French peers Sogeric in 2019 and HDS in 2020. This year, the group proceeded to buy Dismarina Mediterranea, Navinordi and 12seemeilen, based in Spain, Sweden and Germany, respectively, according to company statements.

Company
Founded in 1999, Alliance Marine provides boat fit-out and maintenance products, as well as safety-at-sea and rescue equipment, serving the leisure boating, watersports and commercial marine industries. It operates 15 brands, according to its website.

People
Weinberg Capital Partners – Philippe Klocanas (partner).

Advisers
Vendors – Natixis (M&A).

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• Topics
• Buyouts
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• France
• Industrials
• LBO France
• Weinberg Capital Partners
• Secondary buyout
• Natixis