Qualium et al. buy Invicta in MBI

The deal is believed to have valued Invicta at around €70m. Crédit Agricole Nord-Est provided a debt package to finance the acquisition.

Demeter Partners and Nord-Est Expansion also took part in the transaction and secured a minority stake, alongside incoming manager Christian Guillou. The business was acquired from the company's former owner and manager Jean-Pierre Dupire, who nevertheless reinvested as part of the transaction, and his family.

The main priority for Invicta will now be organic growth, but the company will also look to make acquisitions both in France and abroad with the support of its new backers.

Company
Established in 1924, Invicta produces heating solutions with a particular focus on wood burners. It employs 280 people, mainly across two sites in Donchery and Vivier-au-Court. Invicta posted a €74m turnover for 2012, a third of which was generated abroad.

People
Stéphane Vermot-Desroches, Arnaud Linxe and Antoine Schricke represented Qualium on the deal. Lionel Cormier and Maxime Bouloc represented Demeter.

Advisers
Equity – Banque Palatine, François Batteux (M&A); Acxior, Guy de Valance (M&A); GGSM, Marc Baffreau, Emily Pabot du Chatelard (Legal); Grant Thornton, Thierry Dartus, Damien Moron (Financial due diligence); Indefi, Julien Berger, Medhi Belefqhi (Commercial due diligence); Grant Thornton, Sylvie Scelles-Tave (Legal); Prosphères, Jean-Marie Chuffart, Philippe Favre (Commercial & management due diligence); ERM, Julien Famy, Edouard Buffière (Environmental due diligence); Marsh, Jean-Marie Dargaignaratz (Insurance due diligence); Exfi Partners, Emmanuel Parmentier (Social due diligence).
Vendors – Pierre Dumont (Corporate finance); Fidal, Joël Rose (Legal).
Management – Oloryn Partners, Roland de Farcy (Corporate finance); Lamartine Conseil, Vincent Libaud (Legal).

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• Topics
• France
• Buyouts
• Consumer
• France
• Demeter Partners