Gimv exits Onedirect to Naxicap

The deal saw other shareholders, including the founders, the management team and BNP Paribas Développement, retain their shares in the business.

According to a statement, Gimv confirmed a net positive impact of €5m on the equity value at the end of 2015. Over the entire investment period, the GP claims a return multiple in line with its long-term average returns. No further details on this transaction have been disclosed.

The fresh capital will boost the company's expansion through external growth opportunities.

Previous funding
In 2007, private equity house Siparex invested €3m in Onedirect for a minority stake.

In September 2010, Gimv backed the €15m MBO of the business, acquiring a majority stake alongside the founders and BNP Paribas.

Company
Founded in 1999 and headquartered in Saint Estève, Onedirect specialises in professional telecoms equipment distribution, such as corded and cordless telephones, switchboards and headsets.

Onedirect saw its revenues increase from €29m in 2010 to €39m in 2015. The company employs 99 people and claims to reach a customer base of 300,000.

People
Gimv – Dirk Dewals (patrner).
Onedirect – Philippe Guisset (CEO).

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• Naxicap