Port Designs (France) - Nov 2007

CIC Finance has taken approximately one-third of the equity of computer bags business Port Designs in exchange for a €2m investment. The balance is held by the company’s CEO and management. CIC Finance was introduced to the investment opportunity by the CIC banking network.

Company

Strasbourg-based Port Designs designs and commercialises bags for computer and portable electronic goods, while the manufacture of the bags is subcontracted in Asia. The business has grown by an average of 143% annually since 2003, to reach €7m in 2006, with a net profit margin of approximately 4%. Revenues of €9.5m are targeted for 2008. Port Designs will look to strengthen its marketing capabilities and develop sales in continental and Eastern Europe.

People

Franck Chevreux was in charge of negotiations on behalf of CIC Finance.

Advisers

Equity - Ernst & Young, Daniel Noel, Laurence Chiesa (Financial Due Diligence)Equity - MLA Conseil, Carine Anstett, Marc Lochert (Legal)

Sourced from: France unquote" 88 (Feb 2008)

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• Expansion
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