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Fondations Capital acquires Buffet Group acquires Buffet Group together together with with CDC Entreprises and CDC Entreprises and the management

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Fondations Capital announces the completion of the acquisition of Buffet Group for an enterprise value of 58 million euros.

Paris, 3 April 2012 -- Fondations Capital has completed the acquisition of Buffet Group for an enterprise value of 58 million euros, representing 7.9 times last twelve months EBITDA.

Buffet Group is the second largest wind instrument producer and distributor in the world. Based in Mantes-laVille, the group’s history dates back to 1789 (first Antoine Courtois trumpet) and 1825 (first Buffet Crampon clarinet manufactured in Paris). Buffet Crampon, the iconic brand of the Group, is the worldwide leading manufacturer of professional clarinets.

Through its five prestigious brands (Buffet Crampon, Besson, Courtois, Schreiber and Julius Keilwerth), the group operates in the field of wood music instruments (clarinets, bass clarinets, oboes, bassoons and saxophones) and brass music instruments (tubas, euphoniums, saxhorns, trumpets, cornets, altos, bugles and trombones). The group benefits from a unique production know-how in its French and German production sites. Through its global own distribution network, with subsidiaries in the United States, Japan, Germany and China, the group generates 93% of its revenues outside France. Buffet Group generated 67 million euros of revenues in 2011 with 570 employees.

Bank financing of the acquisition has been provided by BNP Paribas, HSBC, LCL and Banque Palatine allowing for a reduction of the indebtedness and providing flexibility to finance future growth.

As the new shareholder of Buffet Group, Fondations Capital intends to implement with the management, led by Antoine Beaussant, a growth strategy through organic growth and acquisitions in order to establish the group as the world reference in wind instruments.

Antoine Beaussant, CEO of Buffet Group, declared: « We are leading a deep and rapid transformation of our group while respecting the fundamental values of our brands, associated with innovation and technology. Fondations Capital will allow us to further expand the global reach of our group through new investments and new acquisitions ».

Xavier Marin, CEO of Fondations Capital, declared: « Buffet Group is a French company of excellence, with production sites in Europe and a local presence from Japan to Brazil. It will take advantage of the development of musical practice throughout the world and will play an active role of consolidation in its industry ».

With ca. 300 million euros under management, Fondations Capital is an independent private equity firm which invests in mid-size French companies. Acting as a responsible and committed investor, Fondations Capital is dedicated to create value through the development and innovation leveraging on the strengths and know-how of its portfolio companies. Fondations Capital is currently the controlling shareholder of Courtepaille (revenues of 283 million euros, 3,700 employees), the second largest player in the French seated casual dining market, and Alkern (revenues of 146 million euros, 690 employees), the largest independent producer of concrete products in the French and Belgian markets.
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