MBO of Phodé

Sector(s)
Food & Agro / Healthcare
Deal type
Sell your business / Buyout / MBO / Debt Advisory
Date
February 2022
Countries involved
France

Client

Phodé is the leading laboratory specialized in olfaction and involved in the design, production and marketing of natural sensory solutions for the well-being of humans, animals and the environment

Deal

Capitalmind has advised Phodé’s shareholders on its share capital reorganization through a primary MBO sponsored by Turenne Santé

Parties

Lead team

  • Nicolas Balon

    Nicolas Balon

    Partner France
  • Guillaume ten Have

    Guillaume ten Have

    Director France

About the deal

Founded in 1996 by Daniel Eclache, Phodé is the leading laboratory specialized in olfaction and involved in the design, production and marketing of natural sensory solutions for the well-being of humans, animals and the environment.

With more than €20 million in turnover, the group has experienced a rapid development phase since its creation with 10% growth per year over the past ten years. Its success is based on a resilient economic model combining disruptive research with continued commercial expansion. Thanks to a global footprint, Phodé Group generates 70% of its sales outside France through its distribution networks and subsidiaries in China, South Africa and Canada, another distinctive asset that sets the Group apart.

With the entry of Turenne Santé, Phodé is turning over a new page in its development by allowing the exit of historical shareholders (including the investment fund Oraxys Environment 1) and the increased stake held by the management team led by Damien Guillobez, the new Managing Director at Phodé. The Group aspires to pursue its growth dynamic through an ambitious business plan with the goal of doubling sales by 2026.

What we did

Capitalmind has assisted the shareholders throughout the transaction: defining deal tactics, designing the equity story, acting as a sparring partner by preparing the shareholders for their primary LBO with a financial partner, drafting the marketing documentation in relation to the equity story and the growth project, approaching and discussing with the most relevant Private Equity funds, securing the bank financing for the transaction, setting the right degree of competitive tension in order to maximize the terms of the transaction (valuation, timetable, governance), managing the process with the advisors and handling the negotiation phases.