Eurazeo's 2RH buys motorcycle helmets specialist Nolan

Unquote understands that the deal values the company at around €60m.

Eurazeo financed the deal with an equity reinvestment of around €22m, while Natixis deployed an undisclosed amount. Unquote understands that the investment also drew on capex lines provided at the time of the acquisition of 2RH.

The vendor is holding company Helmet Invest, controlled by chair Alberto Vergani and other executives, who will sell their shares but will stay on with the business as managers.

Following Nolan’s acquisition, which will complement 2RH's brand portfolio composed of Shark, Bering, Segura, Bagster and Cairn, the group expects to reach turnover of €150m in 2019, employ 1,000 staff across 80 countries and double the size of its business by 2023.

Eurazeo acquired a majority stake in France-based 2RH, a protective motorcycle and winter sports equipment manufacturer, in June 2018, investing alongside Naxicap and the company’s management.

The GP invested via Eurazeo PME III, which deploys equity tickets of €20-100m in mid-cap businesses valued between €50-200m. Naxicap first invested in 2RH in May 2015 – at the time, the company was valued at €60m. The GP doubled the amount invested in 2015 in the latest buyout transaction.

Company
Established in 1972 and based in Brembate di Sopra, near Bergamo, Nolan manufactures motorcycle and outdoor protection equipment and markets its products under the brands Nolan, X-lite and Grex. The company manufactures 400,000 helmets per year and employs 360 staff.

People
2 Ride Holding - Patrick François (president).
Eurazeo PME - Erwann Le Ligné (managing director).
Naxicap Partners - Angèle Faugier (partner). 

Advisers
Equity - Fineurop Soditic (corporate finance); DLA Piper (legal).
Company - UBS Corporate Advisory (corporate finance); NCTM (legal).

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