Argos Wityu announces the sale of the Shop Novation Group
Paris – Argos Wityu is pleased to announce the sale of the Shop Novation Group by way of a secondary LBO to Azulis Capital, in association with the management team.
Following on the sale of the Mertz Group last July, this exit, at a multiple of 2,7x the initial investment is the 6th for the Argos Wityu V fund raised in 2006.
The Shop Novation Group, comprising the companies Sitour Merchandising and Caractères, is the French leader in merchandising solutions for hypermarkets (labelling, signing and point-of-sale communication).
The Group offers a large range of more than 3 000 products to a client base of over 7 500 (distribution and advertisers).
Today, the Group is in a position to engage in a policy of growth, both in France and by way of export, so as to enlarge its offer in new product and client segments.
Gilles Mougenot, a Partner in Argos Wityu comments: “We are delighted to have accompanied the management team in this primary MBO during which we have worked together to create value. In particular, we have simplified the legal and industrial organisation, reinforced the management, implemented a new ERP system, identified acquisition targets and put into place commercial and financial reporting. It is these elements rather than the initial leverage, which have created value.”
- Groupe Shop Novation : Philippe Ecran
- Argos Wityu : Gilles Mougenot, Bastien Guelton
Sellers’ Advisors :
- M&A – Bucéphale Finance (Olivier Dardel, David Orban)
- VDD Financial – Ernst & Young (Emmanuel Picard, Eric Fougedoire, Maxime de Vieth)
- Legal and Social – Kramer Levin (Christophe Gachin)
- Fiscal : Arsène Taxand (Franck Chaminade)