Sale of Gazarmor to Butagaz

Sector(s)
Business Services
Deal type
Sell your business
Date
May 2021
Countries involved
France

Client

Sofia is a holding company active in the fields of gardening, energy, transport & logistics, bedding, and hygiene

Deal

Capitalmind has advised Sofia Group on the disposal of Gazarmor to Butagaz

Parties

Lead team

  • Alexandre Ebin

    Alexandre Ebin

    Managing Partner France

About the deal

Sofia Group is a family-owned holding company active in the fields of DIY, gardening, energy, transport & logistics, bedding, and hygiene. The group is mainly established in the west of France throughout 10 subsidiaries, employs around 900 people and generated €189m of sales in 2020.

Gazarmor distributes liquefied petroleum gas “LPG” on behalf of Butagaz (the French leading LPG provider) in 19 departments in France. Before the transaction, Gazarmor was the last remaining independent distributor.

The Butagaz group – French leader in the LPG market – acquired 100% of Gazarmor’s shares.

Butagaz is a multi-energy and service provider, a major player in liquid gas (propane and butane), and has been present in France for nearly 90 years. Butagaz has a turnover of more than one billion euros and supplies gas to nearly 5 million customers.

During the past years, Butagaz engaged on a vertical integration, acquiring all of its local distributors.

What we did

Capitalmind was mandated to support Sofia, Gazarmor main shareholder, all along the disposal process: preparing the marketing documentation and financial figures, providing an active execution support in negotiating with Butagaz, managing the due diligence process as well as final legal negotiations.