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Spice Capital takes over from Adaxtra Capital in Klac Industrie

Spice Capital takes over from Adaxtra Capital in Klac Industrie

After 5 years with Adaxtra Capital, Klac Industrie has acquired new majority shareholders. The round of financing, orchestrated by Spice Capital, brings together a group of leading private investors, including two minority investors, present during the previous operation and returning on this occasion.

Klac Industrie, led by Felicia Lange since 2015, specialises in the design and manufacture of high-end dedicated quick couplers for hydraulic excavators (mainly mini excavators). The company, which has a turnover of more than €10 million, has experienced strong growth since its takeover in 2012. It is recognised by manufacturers and dealers for its quality products, offering safety and allowing the interchangeability of equipment. The company has internalised its production for rigorous quality control and a high level of responsiveness to its customers. For several years, Klac Industrie has been developing a range of complementary accessories for a “one stop shop” offer. It has strongly accelerated its international development with a strong presence in Italy.

Jean-Christophe Sampson, Partner at Spice Capital: ” We have found the archetype of the reactive and innovative industrial company that has made the reputation of the French industry. We believe in its positioning on a market with a high barrier to entry and in its development potential, under the impetus of a dynamic management team.”

Felicia Lange, President of Klac Industrie: “The strong development of the company in recent years and the new industrial projects to be launched make the arrival of a new shareholder timely. We thank Adaxtra Capital for its support and look forward to a new partnership with Spice and its co-investors.”

François Parmentier, Managing Director and Thibaut Penhoat, Investment Director of Adaxtra Capital: “We are proud to have accompanied Klac Industrie’s growth over the last five years and to have been able to work alongside the entire team. Our relationship of trust with Felicia Lange has allowed us to accompany them in the development of Klac and to support their objectives to consolidate their position. We would like to thank the entire team and are pleased to hand over to Spice Capital.”

The transaction, intermediated by Invest CF, is structured as a mostly secondary LBO, with senior debt arranged by CIC Nord-Ouest and SG Crédit du Nord, who had already supported Klac in the previous transaction.

About 123IM:

123 Investment Managers is an independent management company specialising in private equity with 70 employees, including 30 investment professionals. 20 years of continuous growth have made 123 Investment Managers a key player in financing and supporting SMEs in France.

Since its creation in 2001, 123 Investment Managers has invested nearly 2.5 billion euros to support 500 entrepreneurs and deploys an average of 200 million euros per year in the capital of French SMEs. The management company is positioned as a multi-specialist investor with strong expertise in the tourism (accommodation, catering, leisure), elderly (nursing homes, seniors’ residences), health (laboratories, pharmacies, etc.), real estate and energy transition (renewable energy production) sectors.

About Adaxtra Capital:

Adaxtra Capital, a French private equity firm, manages nearly €450 million of assets on behalf of more than 500 clients. Thanks to its expertise in supporting talented entrepreneurs and investing in private equity funds, Adaxtra Capital offers its clients a wide range of investment opportunities.

The team, composed of experienced individuals with complementary multi-sector skills, is particularly sensitive to the human values of the managers it supports. Its objective is to build long-term partnerships based on trust and respect. Adaxtra Capital is a subsidiary of BRED Banque Populaire.

Stakeholders :

Investors: Spice Capital (Jean-Christophe Sampson, Maryline Kulawik), 123IM (Barthélemy Renaudin, Jocelyn Tête, Camille Dallemagne), Back to Basics (Marc O’Neill), Fadefi (Guy Desjonquères)

Transferor: Adaxtra Capital (François Parmentier, Thibaut Penhoat)

M&A intermediary: Invest Corporate Finance (Marc O’Neill, Alan Le Roux, Manon Ardouin)

Legal: Aramis Avocats (Raphaël Mellerio and Gaëtan Le Page, with Nelson Da Riba and Salomé Saada for the tax part and Frédéric Milcamps and Cyrielle Fauconnet for the social part), Alerion Avocats (Antoine Rousseau, Maëliss Bourbon, Pierre-Loup Allopea)

Investors, Financial Audit: Advance Capital (Gueorgui Gueorgiev, Prescilia Dard, Robin Ansart)

Vendor, Financial due diligence: Advolis Orfis (Xavier Nicolas, Gabriel Biabaud)

Transferor, Strategic due diligence: Advention (Alban Neveux, Alexander Lyon)

Manager, Valuation Advice: Aurys Group (Ghislain Mangin d’Ouince, Hugo Michelas, Enzo Malacrino)

Senior debt: CIC Nord-Ouest (Pierre Bulteau, Thomas Lailler, Rachel Cousin), SG Crédit du Nord (Carlos Dias, Christophe Sancier)

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