Bain to acquire Maison du Monde

The US firm will buy the French furniture retailer from Apax, LBO France, and NiXEN, in a deal valued at between €650m and €700m.

Bain Capital has signed an exclusive agreement to acquire Maison du Monde, a French home decoration and furniture retailer, from Apax Partners, LBO France and NiXEN Partners

No financial details were disclosed for the transaction, but a source close to the matter told Private Equity International the deal was worth between €650 million and €700 million. 

The management team is to retain a 20 percent share in the business upon completion of the sale, which is expected to close in the coming weeks. 

Apax and LBO France bought Maison du Monde in 2008, investing alongside NiXEN and the management team in a deal that valued the company at €435 million. Apax and LBO France respectively owned 36 percent of the business, while NiXEN held an 8 percent stake. 

Since then, the group’s sales revenues grew from €230 million to €500 million, mainly achieved through the opening of 51 new shops across Europe, new collections and the development of its e-commerce platform. EBITDA also doubled over the period, a source said. 

The deal marks the end of an auction process, eagerly followed by the French buyout industry, launched by investment banks Lazard and Messier Maris last March. Rival bidders have reportedly included AXA Private Equity and PAI Partners, which was said to be the last firm still in the race alongside Bain at the end of May. 

It will provide a timely exit for LBO France, which launched its latest fund last month with a target of €1 billion. The vehicle is aiming higher than its predecessor, a 2008 vintage that reached its final close on €851 million. 

It is also seeking to sell hospital operator Medi-Partenaires, and actively looking to acquire perfume retailer Nocibe, a source recently told PEI.