Dromadaire.com (France) - Dec 2007

Turenne Capital Partenaires has backed the owner buyout of electronic greeting cards business Dromadaire.com. The private equity firm invested €3m in equity, via a FIP fund and its listed vehicle Turenne Investissement, in return for a minority interest. The deal, which was sourced through corporate financier MGT, is leveraged with around €2m of senior underwritten by LCL Bretagne. Possible exit routes include a further owner buyout and an IPO on Alternext.

Company

Paris-headquartered Dromadaire.com is a website providing electronic greeting cards. The business, which has a major partnership with Yahoo, generated €1m in revenues in 2006. This figure is expected to increase to €2m in 2007, and reach €10m within three or four years, thanks to a duplication of the business model in Germany, the UK, Italy and Spain.

People

Marc Meneau and Hubert Michalowski worked on the transaction for Turenne Capital Partenaires. Sébastien Longeaux arranged the debt for LCL Bretagne. Rafik Smati is Dromadaire.com’s CEO.

Sourced from: France unquote" 87 (Jan 2008)

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