Siparex, BPI invest €3m in Duralex

The firms invested in the company alongside group manager Xavier Sebaux. Initiative & Finance sold its majority stake in the business.

Siparex invested in the company via its Siparex Proximité Innovation division, through the Nord-Ouest Entrepreneurs 4 fund.

A debt package has been provided for the deal by BRED Banque Populaire and Crédit Mutuel's Banque Commerciale du Marché Nord Europe (BCMNE).

Previous funding
Initiative & Finance acquired a majority stake of around 66% in Duralex in December 2006, according to unquote" data.

The deal was leveraged with a single-tranche debt package underwritten by NSM and BRED.

Company
Founded in 1950 and headquartered in Bobigny, Duralex is a manufacturer of paints and coatings for the construction industry.

The company stocks 150 products, the majority of which are under its own brand. It generated €6m in revenues last year and employs 29 staff.

People
Xavier Sebaux is the president of Duralex. Damien Fulchiron, the managing director of Siparex Proximité Innovation, and senior investment manager Marlène Rey worked on the deal alongside BPI investment director Ménélé Chesnot.

Advisers
Equity - Advance Capital, Olivier Poncin, Corentin Thevenon (Financial due diligence); Cabinet Lebray & Associés, Philippe Lebray, Delphine Poidatz-Kerjean (Legal); APAVE, Pierre Delrieu (Environmental due diligence).
Company - Societex Corporate Finance, Fabien Lemaire, Alexis Masson (M&A); Lamartine Conseils, Guillaume De Ternay, Marie-Albane Pamard (Legal).

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• Secondary buyout
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