29 March 2022

Maier x BNP Paribas Développement x Garibaldi Participations x Carvest

LBO

Secteur Consumer Products & Retail

The founding family of Maison MAIER reorganises its capital and welcomes BNP Paribas Développement and Carvest to write a new page in its history. Garibaldi Participations renews its confidence in the House.

Client Maier

Founded in 1998 by Jean-Louis MAIER, the Maison MAIER brings together the most beautiful brands of Fine Jewellery and Fine Watchmaking in its 7 boutiques in the heart of Lyon's Carré d'Or. The company distributes the most prestigious watch brands, via Rolex, Tag Heuer, Breitling, a multi-brand shop and a Vintage boutique. Jewellery is distributed through a multi-brand shop with brands such as Dior, Chaumet and brands such as Dior, Chaumet and Piaget, a Fred shop and a Cartier Room exclusive to the Rhône-Alpes region. MAIER also markets a range of jewellery under its own brand. A fast-growing online sales site completes the family business' offer. Thanks to the nearly 60 brands distributed, the reliability of its team of 50 enthusiasts, its premium locations and its reputation, MAIER has won over a local, national and international clientele. The strong growth of Maison MAIER is based on a solid organic growth to which is added the opening of new boutiques. The founding family is aiming for a turnover of over 65 million euros by 2026.

Contrepartie BNP Paribas Développement

BNP Paribas Développement, an independent subsidiary of the international banking group BNP Paribas, is a limited company that has been investing its own funds directly as a minority shareholder for over 30 years to support the development of successful SMEs and SMIs and ensure their long-term survival by facilitating their transfer. In addition to the financial resources made available to the company to ensure stable resources, the In addition to the financial resources made available to the company to ensure stable resources, BNP Paribas Développement's role is to support the management team over the long term in the implementation of its medium-term strategic projects. Our minority position ensures that our partners have appropriate governance without interference in day-to-day management, while benefiting from the strength of a recognised group and the experience of a partner with a portfolio of over 400 diversified holdings.

Contrepartie Garibaldi Participations

Garibaldi Participations is the private equity subsidiary of Banque Populaire Auvergne Rhône Alpes. As a member of France Invest, Association des Investisseurs pour la Croissance, we provide the equity capital necessary for the development or the organisation of the shareholding of SMEs and ETIs in the region.

Contrepartie Carvest

Crédit Agricole Régions Investissement investment fund

The Lyon-based luxury watch and jewellery group is reorganizing its capital. This second financial operation sees the entry of BNP Paribas Développement, as leader, and Carvest. Garibaldi Participations, which took a stake in the company in 2016, confirms its support for MAIER by participating in this new transaction. The trio of investors has taken a minority shareholding position. The group has achieved a turnover of nearly 45 million euros in 2021, an increase of 33% compared to the year 2020. The transaction is supported by debt arranged by Banque Populaire Auvergne Rhône-Alpes, the historic bank, to which Caisse d’Epargne Rhône-Alpes and Crédit Agricole Centre-Est also subscribe.

Founded in 1998 by Jean-Louis MAIER, Maison MAIER brings together the finest Haute Joaillerie and Haute Horlogerie brands in its 7 boutiques in the heart of Lyon’s Carré d’Or district. The company distributes the most prestigious watch brands, via Rolex, Tag Heuer, and Breitling shops, a multi-brand shop, and a Vintage boutique. Jewellery is distributed through a multi-brand shop offering brands such as Dior, Chaumet and Piaget, a Fred shop, and a Cartier Room exclusive to the Rhône-Alpes region. MAIER also markets a range of jewellery under its brand name. A fast-growing online store completes the range offered by this family business.

Thanks to the nearly 60 brands it distributes, the reliability of its team of 50 enthusiasts, its premium locations, and its reputation, Maison MAIER has won over local, national, and international customers. The strong growth of Maison MAIER is based on solid organic growth, complemented by the opening of new boutiques. The founding family is aiming for sales of over €65 million by 2026.

The entry of BNP Paribas Développement and Carvest, and the renewed support of Garibaldi Participations, are intended to accompany the group’s growth and to continue the family transmission. Jean-Louis MAIER’s children, all of whom are operational within the company, are contributing all of their shares to the transaction. Following a competitive process organised by PAX Corporate Finance, BNP Paribas Développement was able to convince the MAIER family and its partner Garibaldi Participations to let it take the lead in this new operation. The trio of investors is investing a ticket of over ten million euros in equity.

Jean-Louis MAIER said: "We are very pleased to welcome new partners to our round table. With this development and transfer operation, new horizons have opened up. Today, thanks to our recent and not so recent partners, we will be able to go further, faster, always faithful to our motto "doing is less risky than not doing".

Gilles PONCET says: "We salute the growth path taken by Jean Louis MAIER and his children. Over the years, MAIER has built up trusting partnerships with the most prestigious brands to become the key regional player in the luxury watch and jewellery sector. We are delighted to accompany MAIER in its project of family transmission and in this new stage of development with projects of opening boutiques and new collaborations. We would like to thank Jean-Louis MAIER and his children for their trust in us.

Laurent GELPI says: "We are very proud to have accompanied Jean Louis Maier since 2016. We have shared his strategic vision of the market, his unique know-how for the creation of boutiques and his willingness to pass on the family business. We are convinced that there is still a next step to take and are very happy to invest in this new operation."

Raphaël PERRET confirms that: "As a subsidiary of Crédit Agricole Centre-Est, a local bank, we are also very happy and proud to support Maison MAIER, alongside BNP Paribas,
we are also very happy and proud to support Maison MAIER, alongside BNP Paribas Développement and Garibaldi
Développement and Garibaldi Participations, to support its development, within the framework of a family transmission initiated several years ago. Jean-Louis MAIER and his children have succeeded in developing a Lyon-based group that has become the regional market leader, with a remarkable reputation and visibility. Thanks to their confidence, we are joining a great entrepreneurial and family adventure, with promising prospects for the coming years.