Milestone reaps 6x money on Cadum trade sale

Milestone manages more than €250m and invests primarily in the UK and France. The exit is the firm's second from its current portfolio, following the sale of Coffee Nation to Costa Coffee for a 3.7x multiple in March 2011.

Previous funding
In September 2007, Milestone made an equity injection of €17.5m to fund the acquisition of Cadum. BNP Paribas Asset Management and CIC provided debt to support the deal, while Paris Orléans provided mezzanine financing.

Company
Founded in 1907 and based in Paris, Cadum International is a soap and baby products brand that launched its first soap in 1912. The firm retails within the personal care and hygiene sector and produces shower gels, solid soaps, as well as family hygiene and baby products.

Since Milestone's investment, the firm's revenues have grown from €16m in 2007 to €58m in 2011.

People
Erick Rinner is a partner at Milestone. Jacques Deret is non-executive director of Cadum.

Advisers
Equity – JP Morgan, Camillo Greco, Edouard Debost (Corporate finance); Travers Smith, David Patient (Legal); Constantin, Jean-Paul Séguret (Financial due diligence); OCC, Laurent Billes-Garabedian (Commercial due diligence).

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