Argos Wityu to exit Juratoys to trade

The GP acquired an 85% stake in the business in 2018, investing alongside management, in a spin-off and carve-out of the firm from Alex Brands, according to Unquote Data. The American toy company had been the sole shareholder since 2015.

Argos made the investment via its Euroknights VII vehicle, which closed in 2017 on EUR 520m, according to Unquote Data. Debt for the transaction was provided by BNP Paribas and LCL.

Under Argos’ management, the company strengthened its product design and development, oriented towards early childhood learning and committed to its environmental policy, according to a press release. Juratoys’ portion of sales outside France was increased to almost half the total, while the business further expanded internationally following the merger with the Belgian company Lilliputiens in 2020.

The merger of Juratoys and Maped will enable the two companies to benefit from their complementary features, combining academic and pleasurable learning, according to the press release. Maped’s international distribution network as well as its industrial expertise is also set to support the growth of the combined entity.

Argos, which has more than EUR 1.4bn in assets under management, is aiming to raise "several hundred million Euros" for its Article 9 buyout climate fund. The new vehicle will target CO2 intensity reduction of 7.5% per year for its new mid-sized European portfolio companies, Unquote reported.

Company
Juratoys, founded in 1970 and based in Orgelet in east France, develops and distributes its own brand of wooden and soft toys. It also distributes international toy brands exclusively in France and Belgium, such as Ty. It was owned by the American toy company Alex Brands from 2015 to 2018. Juratoys manages more than 1,400 products under its three proprietary brands Janod and Kaloo brands, acquired in 2011, as well as Lilliputiens, acquired in 2020. The company designs more than 350 new products every year, has 170 employees and generates annual turnover of more than EUR 80m. It is present in France, Germany, Italy, Spain, the United Kingdom, the United States and China.

People
Juratoys − Ludovic Martin (chairman and CEO).
Maped − Romain Lacroix (chairman and CEO).
Argos Wityu − Gilles Lorang (managing partner), Mario Giannattasio (director), Pierre Cassignol (associate).

Advisers
Vendor − Clearwater international: Philippe Guezenec, Marie Cassola, Valentine Mevel, Matthias Krimmel (corporate finance); McDermott Will & Emery: Bertrand Delafaye, Herschel Guez, Alexandre Adande (legal); KPMG: Olivier Boumendil, Benoit Luscan, Adrien Bes (financial DD); Arsene Taxand: Franck Chaminade, Valentine Roulin (tax).
Buyer − Natixis Partners: Jean-Noel Combasson, Driss Mernissi (corporate finance); Delsol Avocats: Emmanuel Kaeppelin, Caroline Da Lage, Raphaël Ory (legal).
Juratoys’ management − Facchin Avocats: Cyril Facchin (legal).

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