Vulcain
Vulcain

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Paris - headquarters
40, avenue de Hoche
75008 Paris
France
+33 (0) 144 706 380

Brussels - office
524, avenue Louise
Brussels 1050
Belgium
+33 (0) 144 706 380

Milan - office
10, Viale Aristide de Togni
20123 Milan
Italy
+33 (0) 144 706 380

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Careers

Vulcain
We are looking for fresh minds and passionate people to work with us.
We seek :

A commitment to excellence

A drive to meet professional challenges

A mind-set geared towards teamwork

An entrepreneurial spirit

An ability to work in an international environment

We offer :

A caring and demanding atmosphere

Plenty of personal development opportunities

A lean management environment

Merit based recognition


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Deal AD INDUSTRIE / December 2016
Deal AD INDUSTRIE / December 2016
« This is a classic primary investment for STIRLING SQUARE CAPITAL PARTNERS, with the potential to institutionalise the business whilst continuing to pursue organic growth and international M&A. We are delighted to partner with Evrard and the deeply experienced AD INDUSTRIE management team, and look forward to supporting the Company in its expansion beyond France »
Julien HORREARD, Partner at STIRLING SQUARE CAPITAL PARTNERS
Industrials
Industrials
AD INDUSTRIE, a manufacturer of sub-assemblies and equipment for to OEMs, is acquired by London-based investment fund STIRLING SQUARE CAPITAL PARTNERS from its founder, Alain DUMENIL, as well as BPI and GE CAPITAL

AD INDUSTRIE is an industrial group specialized in the design, production and assembly of technical parts and precision assemblies (propulsion, aerostructures, equipment), in metal or composite, to the aerospace, defence, energy and medical sectors. The group operates via 10 industrial sites located mainly in France, as well as in Morocco and Tunisia. AD INDUSTRIE generated €200 millions in sales in 2016.
STIRLING SQUARE CAPITAL PARTNERS acquired a majority stake in AD INDUSTRIE via a LBO, alongside the management team as minority shareholder and BPI which reinvested in the operation. The transaction was partly financed with a senior debt raised from several banks.


VULCAIN'S INTERVENTION

VULCAIN advised STIRLING SQUARE CAPITAL PARTNERS in the acquisition of AD INDUSTRIE.
The team of VULCAIN that supported this transaction was led by Chris KODECK.
« This is a classic primary investment for STIRLING SQUARE CAPITAL PARTNERS, with the potential to institutionalise the business whilst continuing to pursue organic growth and international M&A. We are delighted to partner with Evrard and the deeply experienced AD INDUSTRIE management team, and look forward to supporting the Company in its expansion beyond France »
Julien HORREARD, Partner at STIRLING SQUARE CAPITAL PARTNERS
Industrials
Industrials
Next news

Deal LATECOERE SERVICES / December 2016
Deal LATECOERE SERVICES / December 2016
« LATECOERE has just reached a new milestone in the implementation of its Transformation 2020 strategic plan. As announced, all teams are focused on improving the company's competitiveness. Concomitantly, the investment program is intended to enhance the Group's leadership in its high value-added businesses: doors and interconnection systems »
Pierre GADONNEIX, Chairman of the Board of LATECOERE
Industrials
Industrials
The aeronautical equipment manufacturer LATECOERE refocused on its core activities by divesting its subsidiary LATECOERE SERVICES, a provider of industrial services, to Group ADF, specialized in engineering and industrial maintenance services

Headquartered in Sainte-Foy-d’Aigrefeuille (around Toulouse, France), LATECOERE SERVICES is the industrial services subsidiary of LATECOERE, addressing the following sectors: aeronautics (core business), space, defense, energy/nuclear and transport (automotive and rail traffic). LATECOERE SERVICES provides an integrated service offer, ranging from engineering, production chain assistance, and metrology via its subsidiary G²METRIC. Mainly based in France, as well as in Germany, the UK, Spain, Canada, Israel and Tunisia, the company generated c.€100 millions sales in 2015.
Group ADF fully acquired LATECOERE SERVICES at the completion of the transaction.


VULCAIN'S INTERVENTION

VULCAIN conducted an auction process in 2016 on behalf of LATECOERE, leading to the selection of Group ADF as sole strategic investor of LATECOERE SERVICES.
The team of VULCAIN that supported this transaction was led by Gauthier BAIJOT and Chris KODECK
« LATECOERE has just reached a new milestone in the implementation of its Transformation 2020 strategic plan. As announced, all teams are focused on improving the company's competitiveness. Concomitantly, the investment program is intended to enhance the Group's leadership in its high value-added businesses: doors and interconnection systems »
Pierre GADONNEIX, Chairman of the Board of LATECOERE
Industrials
Industrials
Next news

Deal SASA DEMARLE / December 2016
Deal SASA DEMARLE / December 2016
« With WEINBERG CAPITAL PARTNERS operational and financial support, we have been able to strengthen our position as a global leader, mainly thanks to an ambitious strategy to develop our products abroad. We are pleased to welcome ARGOS SODITIC as new majority shareholder to pursue our growth trend »
Rudy BOUSSEMART, Chairman of the SASA DEMARLE GROUP
Industrials
Industrials
WEINBERG CAPITAL PARTNERS and Patrice JACQUELIN sold their stake in SASA DEMARLE Group in December 2016 to ARGOS SODOTIC

The SASA DEMARLE Group is the world leader in the design and manufacture of baking equipment mainly for bakery and pastry professionals. The Group operates mainly through two branches: SASA, specialized in rigid and semi-rigid baking equipment and GUY DEMARLE, inventor of the flexible supports and molds under the FLEXIPAN and SILPAT brands. The Group relies on two production centers in France and three recoating centers in France, China and the United States.
The group has a turnover of nearly €60 million, more than half of which is outside of France mainly through a network of more than 80 specialized distributors throughout the world, with an Ebitda margin of c.15%.
Post transaction ARGOS SODOTIC will hold 95% of SASA INDUSTRIE's capital and 5% will be held by the management. This acquisition was financed by a unitranche debt granted by IDINVEST PARTNERS and CEREA PARTENAIRE.


VULCAIN'S INTERVENTION

VULCAIN conducted, in co-mandate with ODDO&CIE, an auction process in 2016, leading to the selection of ARGOS SODOTIC as sole financial investor.
The team of VULCAIN that supported this transaction was led by Thierry FALQUE-PIERROTIN.
« With WEINBERG CAPITAL PARTNERS operational and financial support, we have been able to strengthen our position as a global leader, mainly thanks to an ambitious strategy to develop our products abroad. We are pleased to welcome ARGOS SODITIC as new majority shareholder to pursue our growth trend »
Rudy BOUSSEMART, Chairman of the SASA DEMARLE GROUP
Industrials
Industrials
Next news

Deal AREVA / November 2016
Deal AREVA / November 2016
Industrials
Industrials
AREVA TA and AREVA S.A. have sold the entirety of their shareholdings, of 66% and 34% respectively, in the capital of their subsidiary ELTA to the ECA Group, a subsidiary of GROUPE GORGÉ, specialized in robotics and automated systems

ELTA, a company based in Toulouse (South West of France) has been specialized in the development, marketing and in-service support of electronic equipment and systems for harsh environments for the aeronautical and space industry since 1975.
Its activities, including mainly the sale and operational maintenance of distressed beacons used in the civil aeronautics sector, generated €15.6 millions in revenue in 2015, with a staff of 92 people.
This sale of ELTA to the ECA Group is part of AREVA TA's strategic plan that aims to refocus its activities on the nuclear sector. It also allows ELTA to benefit from the backing of a long-term shareholder that will be able to support its strategic and industrial development.
In preparation for this sale, AREVA first (1) acquired the 34% held by OHB in ELTA, a company then with a revenue of €35 millions, which included, in addition to aeronautical and space activities, nuclear and transport activities, then (2) separate nuclear and transport activities in order to integrate them directly into AREVA and keep in ELTA only the aeronautical and space activities with a view to sell 100% of it.


VULCAIN'S INTERVENTION

VULCAIN assisted AREVA throughout the capital and operational reorganization of ELTA, firstly in the acquisition of the 34% held by OHB, then secondly in the carve-out and integration of nuclear and transport activities within AREVA, and thirdly in conducting a large auction process including French and international industrials, leading to the selection, in November 2016, of ECA Group as sole investor.
The team of VULCAIN that supported this transaction was led by Chris KODECK.
Industrials
Industrials
Next news

Deal BKW / September 2016
Deal BKW / September 2016
« This acquisition optimises our wind portfolio through greater geographical and regulatory diversification. »
Renato STURANI, Head of the Renewables & Efficiency division
Infrastructure and energy
Infrastructure and energy
The Swiss-utility BKW has acquired four wind farms in France totaling 49MW, with the option to purchase a fifth, from SAMFI INVEST Group, a French investment company.

One of the farms has been in operation since 1 May 2016; the other three are in the planning or construction phase and should be connected to the network between 2017 and 2018. With 22 turbines and an installed capacity of more than 49MW, they will produce around 120GWh of electricity per year, equal to the annual consumption of more than 18,000 households.
This is BKW’s second investment in the French wind power sector, as it consolidates its position as the leading Swiss operator of wind farms in Switzerland and abroad.


VULCAIN'S INTERVENTION

VULCAIN advised BKW, in the auction process leading to the selection of BKW as sole investor.
The team of VULCAIN that supported this transaction was led by Chris KODECK.
« This acquisition optimises our wind portfolio through greater geographical and regulatory diversification. »
Renato STURANI, Head of the Renewables & Efficiency division
Infrastructure and energy
Infrastructure and energy
Next news

Deal TARA JARMON / September 2016
Deal TARA JARMON / September 2016
« After consulting several actors in the fashion world, we selected Jean-Paul Bize. In addition to the good relations he has developed with David Jarmon, it is his entrepreneurial profile, his long-term vision, but also his financial autonomy that made the difference. »
Francis VARESANO, TARA JARMON General Manager
Consumer, Brand, Retail
Consumer, Brand, Retail
David and Tara JARMON, founders of the accessible luxury womenswear brand TARA JARMON, have sold a majority share in TARA JARMON to family office AMS Industries, to accelerate its international development

Founded in 1986 by David and Tara JARMON, TARA JARMON is a French womenswear brand, positioned on accessible luxury. The company operates a network of c.50 shops and c.60 corners, while having from a presence in c.600 multibrand stores worldwide.
Generating over 50 million euros sales, and a retail volume of 100 million euros, TARA JARMON plans to double its sales over the next five years.
AMS Industries, a family industrial holding founded by Jean-Paul BIZE, already owner of watchmaking and jewelry houses, including jeweler POIRAY and cultured pearls TECLA, intends to form a small group in the luxury world. AMS Industries is also active in the tourism, hotel and energy sectors.


VULCAIN'S INTERVENTION

VULCAIN conducted an auction process in 2016, among investment funds and family offices, leading to the selection of AMS Industries.
The team of VULCAIN that supported this transaction was led by Thierry FALQUE-PIERROTIN and Michael SCHOR.
« After consulting several actors in the fashion world, we selected Jean-Paul Bize. In addition to the good relations he has developed with David Jarmon, it is his entrepreneurial profile, his long-term vision, but also his financial autonomy that made the difference. »
Francis VARESANO, TARA JARMON General Manager
Consumer, Brand, Retail
Consumer, Brand, Retail
Next news

Deal ATLAS FOR MEN / July 2016
Deal ATLAS FOR MEN / July 2016
« ATLAS FOR MEN has proven itself by establishing in Germany, the largest European mail order market but also the most competitive. With our support, the group plans to expand further in Nothern and Eastern Europe »
Pierre CHABAUD, Partner at ACTIVA CAPITAL
Consumer, Brand, Retail
Consumer, Brand, Retail
Technology, Media and Telecom
Technology, Media and Telecom
ACTIVA CAPITAL has acquired ATLAS FOR MEN from DE AGOSTINI Group in order to support its growth in its existing markets and to develop further internationally and online through a marketplace

ATLAS FOR MEN is a specialist in the mail order market for men’s outdoor clothing and accessories which generated 2016 sales of €130 million (vs. €30 million in 2007) and an EBITDA of €8 million. The Company realizes half of its sales in France, one third in Germany and the balance in the rest of Europe including Russia. ATLAS FOR MEN has a market share of 15-20% in the French market.
Since its creation in 1999, the Company was part of EDITIONS ATLAS, as subsidiary of the Italian group DE AGOSTINI, world leader in fascicles who wishes to refocus on its core business.


VULCAIN'S INTERVENTION

VULCAIN has supported ACTIVA CAPITAL in an auction process addressing both industrial and financial companies, mainly French mid-cap investment funds. The transaction is financed by a mezzanine debt provided by INDIGO CAPITAL and a senior debt.
The team of VULCAIN that supported this transaction was led by Thierry FALQUE-PIERROTIN.
« ATLAS FOR MEN has proven itself by establishing in Germany, the largest European mail order market but also the most competitive. With our support, the group plans to expand further in Nothern and Eastern Europe »
Pierre CHABAUD, Partner at ACTIVA CAPITAL
Consumer, Brand, Retail
Consumer, Brand, Retail
Technology, Media and Telecom
Technology, Media and Telecom
Next news

Deal EOLFI / July 2016
Deal EOLFI / July 2016
Infrastructure and energy
Infrastructure and energy
EOLFI, a French developer specialized in off-shore wind projects, and CGN EUROPE ENERGY, have formed a Joint-Venture to respond to the French Call for Project to develop floating offshore wind farms in the Mediterranean and in Brittany

As part of this Call for Project, the Joint-Venture formed by EOLFI and CGN EUROPE ENERGY, has been awarded, in July 2016, the project of Groix and Belle-Île in Brittany. This project comprises 4 large GENEREAL ELECTRIC wind turbines of 6 MW.
In May 2017, EOLFI and CGN EUROPE ENERGY have opened the capital in "Les éoliennes flottantes de Groix & Belle-Ile" to two new equity sponsors: MERIDIAM and the CAISSE DES DÉPÔTS.
This project is a pilot farm that will allow to develop a larger commercial wind farm in the future.


VULCAIN'S INTERVENTION

VULCAIN conducted an auction process, leading to the selection, in 2016, of CGN EUROPE ENERGY as EOLFI's partner to respond to the Call for Projects, and then advised EOLFI as part of the entry to the capital of the company “Les éoliennes flottantes de Groix & Belle-Ile", in May 2017, of MERIDIAM and the CAISSE DES DÉPÔTS.
The team of VULCAIN that supported this transaction was led by Chris KODECK.
Infrastructure and energy
Infrastructure and energy
Next news

Deal PROXISTORE / May 2016
Deal PROXISTORE / May 2016
B2B Distribution and Services
B2B Distribution and Services
Technology, Media and Telecom
Technology, Media and Telecom
The Belgian company PROXISTORE raises €3.5 million by offering merchants to target customers by digital advertising in their geographical areas of influence

Founded in 2011, PROXISTORE has developed an advertising solution from a Web to Store angle: online publication by a physical merchants of local advertising and geolocation of potential customers in order to generate in-store traffic.
Several players took part in this fundraising event, such as the Regional Investment Company of Wallonia (SRIW), which joins the capital, while the current shareholders followed: Roularta Media Group and PX Holding SA (holding of the CEO Bruno Van Boucq surrounded by Belgian industrial families).


VULCAIN'S INTERVENTION

VULCAIN conducted an auction process in 2016.
The team of VULCAIN that supported this transaction was led by Chris KODECK.
B2B Distribution and Services
B2B Distribution and Services
Technology, Media and Telecom
Technology, Media and Telecom
Next news

Deal TODD / April 2016
Deal TODD / April 2016
B2B Distribution and Services
B2B Distribution and Services
Industrials
Industrials
TODD Group expands with the acquisition of SAFIR DISTRIBUTION from the French diversified family group EXPERTON-REVOLLIER located in Isère

For more than 50 years, SAFIR DISTRIBUTION has specialized in spare parts distribution for industrial vehicles and has recently undergone economic underperformance.
TODD Group is a specialist in the distribution of spare parts and after-sales services for industrial vehicles which since 1975 has undergone a permanent evolution. Today, the group covers the entire French territory with more than 30 agencies and technical stations for vehicle interventions.
Led by the teams of AEXTENSIA CORPORATE FINANCE on the sell-side and those of VULCAIN on the buy-side, this operation is financed by TODD's equity. This operation enables the Group to complete its distribution network and its network in the French territory.


VULCAIN'S INTERVENTION

VULCAIN accompanied the founding shareholders of TODD in the acquisition of SAFIR.
The team of VULCAIN that supported this transaction was led by Michel DUVAL.
B2B Distribution and Services
B2B Distribution and Services
Industrials
Industrials
Next news

Deal PHYTEA / February 2016
Deal PHYTEA / February 2016
Healthcare
Healthcare
Consumer, Brand, Retail
Consumer, Brand, Retail
NAXICAP and the founders of PHYTHEA have sold their 100% stake in the Company to LABORATOIRES NOREVA in order to ensure its redevelopment

PHYTHEA is a designer and distributor of food supplements, especially for joints and menopause via its brands PHYTALGIC and MENOPHYTHEA. Its 28 products are distributed through 5,500 pharmacies and parapharmacies mainly in France, but also in Antilles and Belgium, generating sales of €9 millions.
LABORATOIRES NOREVA was founded in the 90’s by Yves-Noël LEPOUTRE and based in Clermont-Ferrand is specialized in dermo-cosmetics and food supplements through its brands NOREVA, ONAGRINE, NOVODEX, NUTREOV and ELCEA. This acquisition enables LABORATOIRES NOREVA to strengthen its market share in its food supplements activity and reach sales of €40 millions.


VULCAIN'S INTERVENTION

VULCAIN launched an auction process in November 2015, exclusively targeting industrial players, which has led to the selection of LABORATOIRES NOREVA in February 2016 for the acquisition of 100% of the shares of PHYTHEA.
The team of Vulcain that supported this transaction was led by Michael SCHOR and Thierry FALQUE-PIERROTIN
Healthcare
Healthcare
Consumer, Brand, Retail
Consumer, Brand, Retail
Next news

Deal GLOBALE ROUTAGE SOLUTIONS / January 2016
Deal GLOBALE ROUTAGE SOLUTIONS / January 2016
B2B Distribution and Services
B2B Distribution and Services
IMPRIMERIE LEONCE DEPREZ sold its subsidiary GLOBAL ROUTAGE SOLUTIONS to EDIIS

IMPRIMERIE LEONCE DEPREZ, a printing services group for magazines, guides, catalogues or leaflets, sold GLOBAL ROUTAGE SOLUTIONS, its routing subsidiary, to EDIIS, specialized in the printing of security documents.
Located in Seine Saint-Denis near Paris, GLOBAL ROUTAGE SYSTEMS specializes in the routing of press and direct marketing materials. It was acquired by IMPRIMERIE LECONCE DUPREZ in 2014 and placed into receivership in November 2015.
EDIIS’s offer was selected by the Commercial Court in mid-January 2015. GLOBAL ROUTAGE SYSTEMS will become EDIIS ROUTAGE and will keep 29 of its 43 employees.


VULCAIN'S INTERVENTION

VULCAIN acted as exclusive financial advisor to IMPRIMERIE LEONCE DUPREZ.
The team of VULCAIN that supported this transaction was led by Michel DUVAL.
B2B Distribution and Services
B2B Distribution and Services