ADVISO PARTNERS advises the AZULIS CAPITAL private equity fund in a primary management-buyout (MBO) transaction around Derek ROHDE and the main key executives.
Taken over in 1999 by Gaël de CALAN, JORDENEN, awarded best object communications agency in 2017, is currently the French leader in the object communications market. The company stands out through its corporate offering aimed at large groups and multi-site companies that account for more than half of its revenue. JORDENEN offers a tailor-made solution with suitable management tools meeting the multiple needs expressed by procurement, marketing and communication departments. The company has recurring relationships with around forty customers in this context.
JORDENEN has also grown through several acquisitions. Evolving within a highly fragmented market but which is becoming more professional, it should constitute an excellent consolidation platform. Two small acquisitions have been made over the last three months.
The company, headquartered in Orléans, has three showrooms in France and employs nearly 80 people. It generated revenues of €22 million in 2017.
JORDENEN has been co-managed for around ten years by Gaël de CALAN, its chairman, and Derek ROHDE, its CEO. The transaction consisted of a primary LBO involving Derek ROHDE and its main managers. Gaël de CALAN has left his operational functions, but retains a minority shareholding position and a role on the Supervisory Committee. AZULIS CAPITAL, majority shareholder, holds 67% of the capital.
Gaël de CALAN states: "The advertising object market has changed a lot in recent years. Beyond excellent value for money, our customers are now looking for advice and a turnkey service. I am happy to pass the torch to the new team that will hold our values high."
Derek ROHDE, the new Chairman of the company, states: "I am happy to start this new stage with the support of AZULIS whose values we share. Our development ambitions are important, but we are keeping our promise alive: to bring the corporate image to life thanks to a range of products and advice with high added value."
Bruno LAVOLLE, Partner of AZULIS CAPITAL welcomes this transaction: "We were very quickly attracted by the dynamism of the managers of JORDENEN and the company's know-how. We are convinced of its significant growth potential, which will include the integration of recent acquisitions, the development of the corporate activity and the takeover of other companies in the sector, which will, if necessary, round out the offering."
