We have advised Activa Capital on its acquisition of Atlas for Men.
Activa Capital has acquired Atlas for Men from De Agostini Group to support its growth in existing markets and to further expand internationally and online through a marketplace.
Atlas for Men is a specialist in the mail order market for men’s outdoor clothing and accessories, with 2016 sales of €130m (compared to €30m in 2007) and an EBITDA of €8m. The company generates half of its sales in France, one-third in Germany, and the remainder in the rest of Europe, including Russia. Atlas for Men holds a market share of 15-20% in the French market.
Since its creation in 1999, the company has been part of Editions Atlas, a subsidiary of the Italian group De Agostini, a world leader in fascicles, which wishes to refocus on its core business.
Clearwater supported Activa Capital in an auction process involving both industrial and financial companies, mainly French mid-cap investment funds. The transaction is financed through mezzanine debt provided by Indigo Capital and senior debt.
