Under the guidance of ADVISO PARTNERS, the transaction enabled EPOPEE GESTION to acquire a majority stake in BHD. OUEST CROISSANCE was also involved in the deal, which will see Arnaud MEYNIAL take office as the new Chief Executive Officer. The deal will give BHD the means to accelerate its development in rapidly developing markets.
Created in the Nantes region in 1974 by Jean Blond to manufacture truck tarpaulins, and taken over in 1990 by the founder’s son Jean-Dominique Blond, BHD now specialises in the design, manufacture and installation of technical textile solutions. Based in Nort-Sur-Erdre (department 44), the company has become the leader in its sector in France, generating revenues of around €80 million and employing more than 440 people across its 16 industrial sites.
With all its manufacturing based in France, BHD's expertise relies on its ability to support its private and public-sector customers nationwide and to meet global demand. The Group has a loyal customer base that seeks responsiveness, reliability, high quality solutions and proximity, from the analysis and design of the solution, through the textile manufacturing stage, to delivery and assembly.
Thanks to its flexibility, BHD covers multiple markets (environment, sport and leisure, architecture, textiles, naval industry and more), with many possible applications in each sector. The Group operates in stadium stand covers, swimming pool covers, truck tarpaulins, protective tents and metal and textile infrastructure, notably for use in shipbuilding.
Jean-Dominique BLOND has led the development of his Group, drawing on a combination of acquisitions, outstanding know-how and high quality execution. Seeking to sell the family business, he turned to regional player EPOPEE GESTION to ensure that the transfer would be fully aligned with the company's values. The longstanding shareholders, the BLOND family and the Group’s executives, are reinvesting in the transaction and welcoming Arnaud MEYNIAL on board as the new Chief Executive Officer. OUEST CROISSANCE also took part in the deal as a minority shareholder.
EPOPEE GESTION is investing in this deal to support the transfer of the business and family expertise of this French industrial flagship, which stands out for its particular ability to keep its industrial innovation in close proximity to its production plants, thus preserving jobs in the French regions.
With EPOPEE GESTION on board as the majority shareholder, BHD will have the means to accelerate its organic growth, notably by developing its business and expanding into new international markets.
Benoît PICART, Partner, Growth Capital, at EPOPEE GESTION:
“The BHD Group is first and foremost a wonderful family venture that has successfully developed its expertise “made in France” from the French regions, drawing on its outstanding industrial expertise and highly committed teams. We are delighted to support the Group BHD and its teams in this new stage of their development, with the support of Arnaud MEYNIAL, and to contribute to the company's growth strategy in France and internationally.”
Olivier PHILIPPON, Investment Director at OUEST CROISSANCE:
“We are pleased to support EPOPEE GESTION in its acquisition of BHD, a company recognised for its expertise and constant quest for innovation and new applications in its business, as part of a transfer deal in which the company’s managers are extensively involved.”
Jean-Dominique BLOND:
“Having led the Group’s development for nearly 40 years, I wanted to pass on the business and at the same time ensure the continuity of the work done and the valuable role played by the managers in this wonderful venture. In the absence of a family solution, a financial partner taking a majority stake as part of a deal which also involves our managers seemed to be the transfer solution best aligned with the objectives set. My family will retain a minority stake to consolidate the arrangement and preserve the values that I have always defended. I am sure that this new structure will enable the Group BHD to sustain the development underway.”
Guillaume DARY, Partner at ADVISO PARTNERS:
“The BHD transfer deal is perfectly aligned with ADVISO PARTNERS’ core values and raison d’être. We have helped the BLOND family to transfer and grow this fine regional mid-cap with the EPOPEE GESTION fund and Arnaud MEYNIAL, a serial entrepreneur from the Grand Ouest region. Jean-Dominique BLOND developed the French leader in technical textile manufacturing, offering a sustainable product range and multi-sector expertise. By generating new momentum, this deal will give the Group the means to continue and accelerate its development.”