NiXEN sells its stake in Maisons du Monde
Alongside Apax Partners, Altamir and LBO France, NiXEN sells its stake in Maisons du Monde to Bain Capital
Apax Partners (along with Altamir), LBO France and Nixen are announcing the finalisation of the sale of Maisons du Monde, a specialist home decoration and furniture retailer to Bain Capital. The closing was on 9 August 2013 at the end of the process to consult the personnel representative bodies and after the approval of the competent European authorities had been obtained.
Bain Capital now controls the majority of the capital of Maisons du Monde. Xavier Marie, CEO and founder of Maisons du Monde and the management team remain substantial shareholders alongside Bain Capital.
“We are proud to have supported the European growth of a very fine French player in specialist retailing, one of our favoured sectors. We are pleased to have supported a visionary entrepreneur and talented teams who have implemented an extremely virtuous multichannel strategy. There is no doubt that Maisons du Monde, with its new shareholder, will be able to continue its international expansion, to become one of the world leaders in its sector”, states Bruno Candelier, a partner at Apax Partners.
“Over the course of the last five years we have focused on backing Maisons du Monde’s growth strategy in France and abroad. The result is a very positive one, as the company’s sales revenue has almost doubled to €500 million driven by the opening of 51 new points of sale. Maisons du Monde’s positioning is unique and it is very well placed to begin the next stage in its development”, adds Robert Daussun, CEO of LBO France.
“We were very interested in setting up a real multichannel strategy with Maison du Monde’s management which is now an established success in the Maisons du Monde Group and probably one of the best examples in French retailing”, points out Pierre Rispoli, General Manager of NiXEN.
“We are very pleased to be backing Xavier Marie in this new stage in the Group’s development. Bain Capital has a long history in the retailing sector in many countries, especially in supporting the development of high potential brands and their store networks abroad. We are also pleased to have been able to put this operation together in a difficult LBO financing market, which is proof of the confidence which Maisons du Monde’s and Bain Capital’s teams enjoy in the financial market”, states Michel Plantevin, Managing Director at Bain Capital.
“We have succeeded in growing the Group in recent years thanks to the work and commitment of our teams. I’m excited to have Bain Capital today as a partner for the company’s next phase of growth, which includes accelerating the international store roll out and the development of the online platform”, concludes Xavier Marie, CEO and founder of Maisons du Monde