Transaction

Clearwater France advises VMI-JOKON on its refinancing

Transaction

VMI-JOKON raised banking facilities to refinance its existing debts

Refinancing

Undisclosed

Role

Adviser to VMI-JOKON on its refinancing

Sector

Automotive

Region

Germany
France

VMI-JOKON is an automotive equipment manufacturer which generated €40m in revenue during 2018 and employs 250 staff in France and Germany. The group is comprised of VMI, which designs, develops and produces electrical connectors for the automotive industry, and JOKON, a German leader in the manufacturing of small series vehicle lighting.

The refinancing allows Marc Laisné, CEO, and the management team to obtain full control of the group and refinance its mezzanine debts. Marc Laisné became the majority shareholder in 2016 when Andera led a sponsorless transaction and acquired a minority stake in the group. As part of the transaction, Andera also provided mezzanine financing.

The transaction is financed through a pool of lenders composed of Crédit du Nord, Société Générale, LCL, Arkéa and Schelcher Prince Gestion.

image 66

I would like to thank Andera Partners and the new banking pool for their trust in the company. Their backing enabled me to take control of the whole group. I also would like to thank the Clearwater team for their effectiveness as well as Héricotte, Jeausserand-Audouard and Balthazar for their rigor and professionalism.

Marc Laisné, CEO, VMI-JOKON
image 66

We are very pleased to have advised the managers of VMI-JOKON on this strategic transaction for the future success of the group.

Laurence de Rosamel, Managing Director, Clearwater

We have been very much impressed by the performance achieved by Marc Laisné and the management team over the last three years. We are proud that, thanks to the sponsorless transaction we arranged in 2016, they are now the sole shareholders of the group. We wish them the best for the coming years.

Laurent Fichter, Partner, Andera Partners

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