VIVATECH

Xperts Council at Vivatech, always a great opportunity to meet our ecosystem: Clients, Xperts, Shareholders, Former Interns, and Friend Companies (make.org, welcometothejungle, …).

But also a unique occasion to increment our knowledge across all industries for our clients.


Biggest LBOs in 2017 : Xperts Council worked on 70% of the cases

Beginning of 2018, Capital Finance published a study on the types of LBOs carried out in 2017. In all different segments, 47% of investments correspond to secondary LBOs.

This trend is growing and requires traditional private equity funds (primary LBOs) to adopt broader strategies in order to adapt and remain competitive. In 2017, 13 LBOs valued at more than 500 million euros were announced in France, amongst which were some large cap LBOs that had a significant impact on the market.

This includes the acquisition of a majority stake in Kiloutou (construction equipment rental) by HLD and Dentressangle Initiatives from PAI Partners for 1.5 billion EUR as well as Ardian selling its interests in Trescal (metrology) to the Canadian pension fund Omers Private Equity which values the company at about 670 millions € .

Xperts Council is proud to call over 70% of the investment funds involved in these important LBOs clients and partners. In addition, Xperts Council has been an upstream player in some of these projects, working with clients to provide highly qualified experts who helped them grasp the specificities of their target companies.


Booming distribution of organic products in France Organic Alliance to be sold to Céréa Partenaire

Last year, sales of organic/bio food have been booming in France, reaching a record amount of €7,15 billion, i.e. +20% as compared to 2015. One of the main issues facing retail chains and independent stores in the organic food distribution is the sourcing. This is why specialist wholesalers have a great role to play.Organic Alliance is France nr.1 organic food wholesaler with sales at about €250 million. Owned by Naxicap Partners since its 2014 buy-out and acting as a holding which brings together different organic food wholesalers and many brands, it has been active in the consolidation wave going on in the sector.

In this new development phase, Naxicap Partners and Organic Alliance decided mid-October to enter into exclusive negotiations with PE firm Céréa Partenaire (Unigrains’ investment subsidiary), together with the management team who would participate in the tertiary LBO transaction that would value the business at circa €150 million (10x the Ebitda value in 2017).

Xperts Council was involved in the due diligence phase as several of its Experts were selected to provide insights on organic food distribution and wholesalers organisation in France.
Beyond the traditional questions on market dynamics and the main players, several strategic questions about key competitive issues also had to be handled.
Like the following ones: Which entry barriers for wholesalers? Are regional and national publicly owned wholesale foods markets (M.I.N., e.g. Rungis) catching up in the organic sector? With fast growing consumer prices, concerns about too different regulations on organic production according to the country of origin and potential lower public subsidies for organic farmers in France and the E.U., is there a risk of lower growth in the sector?

Xperts Council has a wide panel of Experts in the organic/bio food sector and will be happy to provide relevant and insightful information on this promising market.