Clearwater International advises Naxicap Partners on raising finance to support the acquisition of Vabel Cosmétique through a primary LBO

Clearwater International has advised Naxicap Partners on raising finance to support the acquisition of manufacturer and distributor of luxury brand perfumery and cosmetics bottles, Vable Cosmétique.

As part of the majority acquisition of Vabel Cosmétique by Naxicap Partners and Nord Est Partners, this financing provides the new shareholders and the management team with the required flexibility to finance the growth of the group.

Founded in 1990 and taken over by the current president Christophe Sallès, Vabel Cosmétique which employs over 400 people, was historically dedicated to the packaging of finished products. However, the company has gradually expanded its services to the entire value chain integrating logistics, materials purchasing, formulation or even the making of skin care products, make-up and perfumes. Its premium positioning, for major European cosmetics groups, has enabled it to stand out from competitors by offering a ’full service’ with strong growth potential.

Established in France with two production sites in the Aisne region and fortified by the support and the expertise of its new shareholders, along with Christophe Sallès’ know-how, the group intends to take advantage of the fragmentation of the market to keep strengthening its value chain, but also to acquire assets with innovative industrial technologies or complementary asset portfolios.

After a dual-track financing process conducted with debt funds and banks, the transaction is financed by an unitranche debt. This structure will provide the group and its shareholders with the required flexibility to achieve its development goals.