Selescope Advises Capital Export’s Backing of Celec BIMBO

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HR Due Diligence, Damien Leblond

Capital Export has supported the BIMBO of French opto-electronic sensor manufacturer Celec, alongside two private investors.

The transaction will see Capital Export acquire a minority stake in Celec from the Martin family and become the largest shareholder in the company.

Also investing will be new Celec CEO Michel Fardo, until now managing director at electrical manufacturer Mors Smitt France. Also investing in the buyout were Vincent and Matthieu Martin, the sons of company founder Christian Martin; and the company’s marketing director and industrial director, respectively. Meanwhile, Pierre-Michel Deléglise will continue overseeing financial and strategic development.

Capital Export has not yet disclosed the amount it will be investing, but its Capital Export FCPR fund typically targets €3-10m deals in French SMEs looking to expand internationally.

With commitments from LPs including BPI France, Banque Palatine, savings banks, family offices and entrepreneurs, the vehicle has made seven investments to date. Other portfolio companies include thermic technology developer Ilo Technology and medical diagnostics equipment provider Spengler.

Celec intends to invest the fresh funds in the launch of new products and the development its international presence, currently representing 70% of its revenues. There are also plans to enter areas including the energy, environmental, railway and security sectors, in order to increase sales from €10m to €17m within five years.