Sale of Clesse Industries

Sector(s)
Industrials
Deal type
Sell your business
Date
October 2022
Countries involved
Benelux / France

Client

Clesse Industries stands as one of the leaders in the design, manufacturing and supply of equipment for Liquid Petroleum Gas, Natural Gas, Biogas and Synthetic Natural Gas installations

Deal

Capitalmind has advised Andlinger & Company on the disposal of Clesse Industries to Innovafonds teaming up with Clesse management team and CEPAL Capital Développement

Parties

Lead team

  • Nicolas Balon

    Nicolas Balon

    Partner France
  • Bart Jonkman

    Bart Jonkman

    Managing Partner Benelux
  • Marleen Vermeer

    Marleen Vermeer

    Partner Benelux

About the deal

Acquired in December 2014 by the private investors Andlinger & Company, Clesse Industries, headquartered in Cournon d’Auvergne (Puy de Dôme), stands as one of the leaders in the design, manufacturing and supply of equipment for Liquid Petroleum Gas (Butane-Propane), Natural Gas (NG), Biogas (BG) and Synthetic Natural Gas (SNG) installations. Through its entities located in France, Italy, the United Kingdom and Brazil, the group generates a consolidated turnover of more than €30m, of which 70% are generated abroad (in Germany, England, Czech Republic, Switzerland, Brazil, United States, etc.).

The group’s product range, marketed under the renowned brands of Clesse and Novacomets, mainly includes gas regulators, valves, fittings and safety accessories, to be installed on tanks, cylinders, networks and pipes. Clesse Industries provides solutions to a diversified customer base composed of gas distributors, industrial users and gas installers.

Following several years of support, Andlinger and Company decided to look for a new financial partner willing to support Clesse’s Management team to further accelerate the group’s development. Capitalmind was then appointed as the exclusive financial advisor for the contemplated transaction. Following a competitive sale process, Innovafonds was selected by the shareholders and the management for the quality of its experience in assisting small and medium-sized industrial companies internationally. This transaction allows the exit of Andlinger & Company and the relution of managers as shareholders.

Founded in 1976, Andlinger & Company is a private equity investment firm headquartered in Tarrytown, New York, with office in Europe (Brussels, Vienna). The firm seeks to invest majority stakes in industrial and technology companies.

What we did

Capitalmind has assisted Andlinger & Company all along the sale process: equity story, qualifying investors most likely to value Clesse Industries’ positioning and growth profile, defining the deal strategy and go-to-market timing, setting up a competitive process to maximize transaction terms & conditions, assisting in the negotiation phase up to closing.