VCs exit Elbee in trade sale

In July 2007, XAnge and OTC AM invested €3m as part of a €3.3m first round of financing alongside business angels. XAnge led the original investment by providing €2.1m, while OTC AM provided €900,000.

Nextstage joined the existing investors in a €10m round in 2009. The company's founders will retain a minority stake in the business following the sale to Adeo.

Groupe Adeo incorporates home furnishings specialists such as Leroy Merlin, Brico Center, Weldom and Bricoman.

Company
Founded in July 2005, Paris-headquartered Elbee operates the Delamaison.fr website, an online retailer of household goods including linen, furniture, cutlery, gardenware and children's products. The company employs 350 staff and posted a €30m turnover in 2011.

People
Nicolas Rose and Rodolphe Menegaux led the deal for XAnge. Pierre Trémolières and Thierry Souvray are co-founders of Elbee.

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• Topics
• France
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• XAnge Private Equity
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• Trade sale
• E-commerce