Project Description

The Breton window manufacturer is carrying out a second LBO alongside Avenir Entreprises, BNP Paribas Développement and Ouest Croissance.

Le Nouy, a manufacturer of windows and closures, has just come back under the control of its managers. François and Alain Le Nouy, the sons of founder René, have in fact regained a majority stake in the capital following the exit of 3i, the main shareholder since 2005. At that date, the first LBO had enabled the exit of the three other Le Nouy brothers by redistributing 60% of the capital to 3i and Avenir Entreprises. On the occasion of this MBO bis, Avenir Entreprises reinvested in equal parts with two new entrants : BNP Paribas Développement and Ouest Croissance. The financing package is completed by a senior debt repayable in two tranches with Caisse Régionale de Crédit Agricole Mutuel du Finistère, Banque Populaire Atlantique and Banque Commerciale pour le Marché de l’Entreprise.

Afival carried out the financial due diligence for this transaction.