December 6th, 2016Natixis Partners advised Galiena Capital with respect to the sale of their minority stake in Groupe Flexdev

Based in St Etienne, France, Groupe Flexdev is specialized in heat-transfer technologies for textile applications. Groupe Flexdev’s sales stood at c.€35m in FY2015. The Group enjoys double digit growth in a highly profitable sector with high barriers to entry. Since the initial investment of Dentressangle Initiatives / Capextens and Galiena in 2012, Groupe Flexdev has enjoyed strong organic growth coupled with build-up acquisitions in Italy and the UK. Galiena Capital’s exit is part of a wider refinancing exercise of Groupe Flexdev’s balance sheet that aims to lengthen debt maturities and give extra room of maneuver for the Group to seize potential international build up opportunities. Following this transaction, Groupe Flexdev’s capital is split between Dentressangle Initiatives / Capextens and its management.

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M&A team:

Paul Bamberger
Directeur Associé

Sébastien Caillé
Executive Director

Margaux Chevillard