
CM-CIC et al. invest €22.4m in MDA
CM-CIC Capital Finance, Ixo Private Equity, Crédit Agricole Régions Investissement and BNP Paribas Développement have invested €22.4m in Groupe MDA, a French retailer of discount household appliances.
CM-CIC led the round, contributing €9.4m to the total. Ixo provided €7m in funding, while Crédit Agricole and BNP Paribas each supplied €3m.
MDA will follow an acquisitive growth strategy following the investment, in France and the rest of Europe. It plans to open 20 new stores in the first quarter of 2015.
The company has a target of 20% growth per year and expects to operate 250 owned stores and 100 franchises within five years.
Company
Founded in 1980 and headquartered in Lozanne, MDA is a retailer of discount household appliances such as washing machines, refrigerators, ovens and televisions. It stocks more than 20 brands such as Bosch, Whirlpool, Samsung and Dyson.
MDA currently operates 144 stores across France, 70 of which are owned with the remaining 74 as franchises. The company employs 260 staff in its own stores, with a further 210 staff employed in the franchises.
People
Michel Vieira is the CEO of MDA. CM-CIC managing director Bertrand Ghez, senior associate Alexandre Beroud and principal Laurent Sallet worked on the deal alongside Ixo managing partner Renaud du Lac, partner Alexandre Sagon and analyst André Debet.
Managing director Hans de Breda and investment director Frank Lefebvre represented Crédit Agricole on the deal, while investment director Ludovic Robert worked on the transaction for BNPP.
Advisers
Equity (CM-CIC) – CMI, Nicolas Kandel, Guillaume Tobler (Strategic due diligence); Grant Thornton, Robert Dambo, Geoffroy Tronel (Financial due diligence); CMS Francis Lefebvre, Gilles Coumert, Delphine Martin-Picod (Tax); Fromont Briens, Philippe Clément, Mathieu Hugueville (Social due diligence); Fidal, Olivier Leroy, Laure Vago (IP due diligence); Duteil Avocats, Edouard Eliard, David Merlet (Legal).
Equity (Ixo) – Exponentiel, Stanislas Canova, David Soriano (Strategic due diligence); Orial, Jean-Paul Bouvard (Financial due diligence); Lamy Lexel, Jean-Pierre Gitenay, Fréderic Dupont (Legal).
Company – Cabinet Henri Roche, Henri Roche (Corporate finance); Cogem, Maurice Napoly (Corporate finance); Quadratur Avocats, Gilles Fresel (Legal).
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