MBO Partenaires injects €6m into Raphael Michel

On top of the €6m capital increase provided by MBO Partenaires, Raphael Michel secured €18m worth of debt facilities from a banking pool comprising CIC, BNP Paribas, Société Générale, Arkéa BEI and Bank of China. State-backed bank Oséo also provided Raphael Michel with a €3m facility. Raphael Michel CEO Guillaume Ryckwaerth retains a majority stake in the business.

MBO Partenaires drew equity from the €180m MBO Capital 3 fund. It was introduced to the deal by corporate finance firm Aurige, which had been mandated by Ryckwaerth to lead the fundraising process.

This marks the first round of funding for Raphael Michel, which is aiming to raise €50m overall in debt and equity over the next three years. MBO Partenaires has earmarked further investments in that time frame – its overall contribution could reach €10m.

The company will use the fresh funds to help structure its processes, with regards to both its production infrastructure and its human resources. It is notably looking to hire a director in charge of exports, as it seeks to drive its international growth.

Company
Founded in 1899, Raphael Michel is a wholesale wine merchant that progressively expanded into wine assembly – mixing different wine types to better suit its clients' demands.

Piolenc-based Raphael Michel posted a €51m turnover last year, up by a quarter on 2011 figures and more than double the €21m generated in 2008. The company employs around 15 staff.

People
Cécile Nguyen Cluzel and Hugues de Gastines represented MBO Partenaires on the deal.

Advisers
Equity – Lamartine Conseil, Florence Savouré, Olivier Renault (Legal); ACA, Olivier Lelong, Philippe Mendes (Financial due diligence); Indefi, Julien Berger (Commercial due diligence).
Vendor – Oderis Consulting, Jean-Christian Raymond (Financial due diligence).
Management – Aurige Finance, Philippe Monier, Rachid Nait Takourout, Jean-Philippe Dayres (Corporate finance); Laurence Battini (Legal).

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• Topics
• France
• Expansion
• Consumer
• France
• MBO Partenaires