Siparex et al. back Nadia MBO

The company's management will retain a majority shareholding in Nadia. The transaction marks the third generation of management controlling the majority of the company. Previous CEO Alain Durand, who purchased the company alongside management in 1999 from Jean Ollivier, has remained a shareholder in Nadia following the buyout. Ollivier, who is the founder of Nicols Co, bought Nadia in 1977.

Debt
A debt package for the buyout was arranged by Crédit Agricole-CIB and Crédit Agricole de l'Anjou et du Maine. Debt was provided by a syndicate of lenders comprising LCL, Arkea Banque Entreprises et Institutionnel, Banque Palatine, Banque Tarneaud, Crédit Mutuel Océan and Banque Populaire Atlantique.

Company
Founded in 1962, Nadia is headquartered in Cholet and currently employs approximately 500 staff. The company recorded turnover of €85m in 2012.

The Nadia Group comprises seven subsidiaries: Nadia Signalisation, which manufactures aluminium road signs; SIB, a manufacturer of aluminium exterior amenities for the home including gates, garage doors and shutters; Dynamic, a provider of food preparation equipment for professional kitchens; dental tool manufacturer Prodont Holliger; Anjou Automation, a specialist in climate regulation and irrigation for greenhouses; houseboat manufacturer Nicols; and Force 5, a provider of recreational boats.

People
Christian Diabas is the president of Nadia. Siparex's Florent Lauzet, Alexandre Tremblin and Alexandre Barruel worked on the deal, while Yves Turpault and Thomas Trideau represented Arkea. Unexo investment manager Antony Lemarchand and financial analyst Emmanuelle Riou worked on the transaction for the firm.

Advisers
Equity – Advance Capital, Jonathan Consolo, Thibault Fleury (Corporate finance); August & Debouzy, Philippe Lorentz, Aurélien Veil (Legal).
Management – Cabinet Daniel-Thezard, Alexandre Daniel Thezard (Legal).
Company – CMS Francis Lefebvre, Bruno Peillon, Alexandre Delhaye (Legal).

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