M&A – Private Equity

Founded in 1952, Fusalp is especially well-known for its earliest technological advances such as fitted ski pants, stirrup ski pants and the one-piece ski suits worn by the French national ski teams in the 1960s.
Fusalp was bought out by the Sophie et Philippe Lacoste brothers and sisters, grandchildren of the tennis legend and founder of Lacoste René Lacoste, former director of Lacoste Alexandre Fauvet in 2014.
This investment fully satisfied the aims of Mirabaud Patrimoine Vivant and Mirabaud Lifestyle Impact and Innovation, supporting growth in European businesses possessing a unique know-how, deep entrepreneurial roots and sustainable objectives.
Mirabaud Patrimoine Vivant and Mirabaud Lifestyle Impact and Innovation were advised by Edgard Nguyen and Mathieu Mascher.
Fusalp was advised by Franklin.

EIM Capital and Apogee announced the acquisition of HPI from the Japanese group JTEKT.
HPI, based in France and Canada, specialises in designing and manufacturing hydraulic components based on external gear pump technology.
This carve out is the second joint operation between the two investment funds after the acquisition of Omniplast in the Netherlands.
EIM Capital and Apogee were advised by an Almain team, as lead counsel, led by Edgard Nguyen and Mathieu Mascher.
The JTEKT group was advised by Clifford Chance and DC Advisory.

Based at Carnoux-en-Provence since its incorporation in 2008, Manufacture Française de Bougies specialises in designing and manufacturing custom-made scented candles.
The manufacturer addresses numerous luxury goods companies and niche brands with its full-service offer spanning small to large series runs.
This manufacturer of luxury scented candles from Provence will become part of the Manzanita Capital portfolio, held by a British family office which also owns Diptyque.
The founder and Bpifrance Investissement were advised by Edgard Nguyen and Mathieu Mascher.
They were also advised by Aurignac Finance.
Manzanita Capital was advised by Bryan Cave Leighton Paisner in London and De Pardiu Brocas Mafféi in Paris.

Almain assisted Beck Industries on its combination with Cooper & Turner, an LBO with Watermill as sponsor.
Today Watermill and Cooper & Turner announced a combination with Beck Industries, a manufacturer and distributor of safety critical fasteners for the nuclear, petrochemical, oil, gas, energy production, gas pipelines, rail and maritime transport and OEM markets.
The aim of the combined entity is to become the world’s leading manufacturer and distributor of safety critical fasteners.
In this cross-border deal involving eight jurisdictions (France, UK, Belgium, Germany, Singapore, Morocco, Hong Kong and the United States), Beck Industries was advised by an Almain team, as lead counsel, led by Edgard Nguyen and Mathilde Garin.
Beck Industries was also advised by Rothschild & Co.
Watermill was advised by K&L Gates in New York and Paris.
MidCap Financial Services, LLC provided the financing.

OpenGate Capital, a global private equity fund announced the exit of Benvic in favour of Investindustrial, a leading European fund.
With factories in France, Italy and Spain, Benvic is one of the leading European manufacturers of solid PVC compounds.
Benvic is a former division of Solvay which was the target of a carve out by OpenGate Capital.
OpenGate Capital was advised by an Almain team, as lead counsel, led by Edgard Nguyen and Mathilde Garin.
OpenGate Capital was also advised by Lincoln.
Investindustrial was advised by Chiomenti and Gide.

Bpifrance and Edmond de Rothschild Investment Partners, through its WINCH Capital 3 Fund, announced that they had acquired a majority equity interest in Platinium Group, alongside its management, heralding the start of a new cycle in its international expansion.
Platinium Group is the publisher of SaaS mode online ticketing software for use by major sporting event organisers.
Over the last few years, Platinum Group has enjoyed vigorous growth and has carved out a place as one of the main service providers in its market segment.
The group provides software solutions to the organisers of motor sports (Formula 1 Grands Prix and motocross) and tennis tournaments, among others.
Simultaneously, Platinium Group has also been expanding an e-commerce sporting event ticketing business via its Gootickets.com website.
The group operates with an international clientele in more than 35 countries and produces close to € 100 million in turnover with more than 50 employees.
With the support of their new shareholders and a banking pool (CEPAC and LCL), Steve Sasportas (founder and CEO) and Bruno Rodrigues (COO) want to consolidate Platinium Group’s position in the mechanical sports market and to extend its offer to other sporting and cultural event organisers.
To drive this ambitious growth plan forward, and after a competitive procedure organised by Transaction R, Bpifrance and Edmond de Rothschild Investment Partners, through its WINCH Capital 3 fund, were selected to succeed the private investors who, historically, had supported and financed the group’s expansion.
Together, these two funds will become majority shareholders alongside management, which will continue to occupy a significant place in the capital of the company.
In this deal, management and historic investors were advised, on the one hand, by an Almain team led by Edgard Nguyen, with the support of PCM Avocats for the Monegasque law aspects of the deal and, on the other, by Rothschild & Co handling the financial aspects.
This deal illustrates the private equity expertise of the Almain partners, enabling them to guide and support their clients through all types of transaction: venture capital, capital growth, LBO, OBO, MBO, build up, etc.

On 15 June 2016, EPC announced that the Board of Directors of Nordex Explosives Ltd. had voted to approve a takeover bid and share buy-back deal for this company.
Conditional upon the approval of the shareholders of Nordex Explosives Ltd. in general meeting, the company, currently listed on the TSX Venture Exchange, will be delisted and returned to the private sector.
Nordex Explosives Ltd. is a Canadian company which manufactures explosives for non-military use in the Province of Ontario.
Nordex produced a turnover of 16.5 million Canadian dollars in 2015.
It distributes and deploys its products in the mining sector, in quarries and for public works projects.
Almain advised EPC, a company listed on the NYSE Euronext Paris, in connection with this transaction which remains subject to some standard conditions precedent for this type of deal.
EPC was advised by an Almain team, as lead counsel, led by Edgard Nguyen with the support of McMillan LLP, as local counsel.
Nordex Explosives Ltd. was advised by Wildeboer Dellelce LLP.
The experience of Almain’s partners in cross-border M&A transactions, together with their network of foreign legal correspondents, helps them to guide and support their clients in their international development in the farthest reaches of the world.
Over the last twelve months, Almain’s partners have been involved in transactions in Canada, Italy, Spain, Germany, Russia and Turkey.