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Apr. 2017
LBO Mid Cap

LBO France enters into exclusive negotiations with Sagard for the acquisition of HMY group

Paris, April 12 th 2017 – LBO France announces that it has entered into exclusive negotiations with Sagard for the acquisition of HMY Group, a leading international group in the design, manufacturing and fitting of retail furniture.

Created in 1960, HMY offers a wide range of furniture (shelving systems, checkouts and bespoke) and provides its clients with integrated service solutions, from conception to their installation in the shop. HMY’s clients range from the top food retailers to the leading specialized retailers, which include DIY, gardening, fashion or electric appliance chains. The group has also successfully diversified in offering POS fittings for international consumer brands.

Active in almost 80 countries, HMY is the market leader in France and Spain, its historic core markets (70% of turnover) as well as in China and employs 4,000 people around the world. In 2016, the Group generated €485m of sales.

Sagard had been a majority shareholder of HMY since January 2005, together with management.

Vincent Briançon, partner at LBO France, said: “Undisputed leader in its historic markets in France and Spain, HMY has become a global player with the support of its shareholders, with in particular a strong presence in China where it is now a leading shopfitter. Strengthened by its unique international coverage, the group has also diversified its activity with POS solutions for global consumer brands, with great successes like the partnership with Adidas. We are delighted to support the management in this new development cycle and should be able to leverage our expertise of the POS and shelving markets, acquired in particular through our past investments in Diam and Averys.”

Frédéric Stolar, founding partner at Sagard, added: “We are proud to have accompanied the successful development and industrial transformation of HMY over more than 10 years. The company is now a global leader with a strong positioning within its key markets. Under the leadership of Ignacio Marin Villamayor, HMY developed a robust product offering targeting the new, highly promising POS market and serving high-profile clients such as Adidas, to which it is a top supplier. Sagard remained a loyal supporter of the management team through sometimes difficult periods, and we are proud of this successful exit with LBO France.”

Ignacio Marin Villamayor, CEO of HMY, concluded: “Thanks to the constant support of Sagard, shareholder of the Group for the past 12 years, HMY has become a world leader in its traditional markets. We are now pleased to have a new shareholder, LBO France, who will actively support the Group in its sectorial and geographical development, especially with acquisitions, in order to reiterate its position as a consolidation platform in the sector. The diversification into areas such as new technologies and lighting will position HMY as the leader in retail innovation.”

For this transaction, the Management is advised by:

– Alexandre Dejardin (Mayer Brown).

About LBO France:

As a key player in private equity with €3.6bn of capital under management, LBO France is an independent company that has been supporting French companies in their growth for more than 30 years. Its strategy is based on four investment approaches in non-listed assets, managed by dedicated teams: (i) Mid Cap buyout through the White Knight funds and Small Cap buyout through the Hexagone funds, (ii) Innovation-Capital through the Innovation Capital funds, (iii) Real Estate through the White Stone and Lapillus funds, (iv) Debt. LBO France is 100%-owned by its management and employs almost 60 professionals.

LBO France deal team: Vincent Briançon, Louis de Lummen, Simon Couturier and Karine Callec.

For this transaction, LBO France is advised by:

– Alban Neveux and Eric Lesavre (Advention) ;

– Michel Frieh and Maud Manon (DLA Piper) ;

– Jean-François Nadaud and Guilhem de Montmarin (Ernst & Young).

About Sagard:

Sagard investment fund provides equity capital to support the development of midsized companies led by ambitious management teams. Created by the Desmarais family (Power Corporation of Canada) in 2003 together with a group of well entrenched industrial families and blue-chip institutions, it manages close to EUR 2.5 billion of capital. Since 2004, Sagard and its team of 10 professionals based in Paris have carried out 29 LBO transactions in the industrial and service sectors in France. Belgium and Switzerland.

Sagard deal team: Frédéric Stolar, Saïk Paugam and Camille Claverie.

For this transaction, Sagard is advised by:

– Charles Andrez and Vincent Thillaud (Lazard);

– David Aknin and Gautier Elies (Weil, Gotshal & Manges);

– Justin Welstead and Florent Garnier (Eight Advisory);

– Olivier de Panafieu and Stéphane Tubiana (Roland Berger).

Press contacts

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Aliénor Miens – +33 (0)1 53 32 84 77 – +33 (0)6 64 32 81 75 –

Daiana Hirte – +33 (0)1 53 32 78 90 – +33 (0)7 60 90 89 12 –

Alison Emringer – +33 (0)1 53 32 78 91 – +33 (0)7 60 44 69 43 –



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