BAIN CAPITAL takes majority stake in MAISONS DU MONDE
Context
The transaction marks the sale of Maisons du Monde to Bain Capital, following a competitive process involving several private equity players, including Axa Private Equity and PAI Partners. LBO France, Apax Partners, and NiXEN Partners, which had held a stake in the group since the secondary LBO in 2008, are divesting their interest in this deal, while management retains a significant stake to ensure strategic and operational continuity. The founder also remains invested, providing stability to the entrepreneurial project and continuity of the brand's original vision. The financing for the transaction is based on a hybrid structure combining high-yield bond debt and bank financing. Bain Capital has opted for a bond issuance of approximately €330 million, abandoning an initial staple financing package structured by the sellers. The latter had included senior debt arranged by Natixis, UniCredit, and Société Générale, supplemented by a junior tranche provided by Euromezzanine and BNP Paribas. The change in ownership comes at a time when Maisons du Monde has completed a phase of rapid expansion, combining store openings and a significant increase in furniture sales, which now account for nearly 50% of the company's revenue. The group currently operates a network of over 200 stores and has a growing international presence, particularly in Southern Europe.
Maisons Du Monde had already undergone several LBOs in the past, notably in 2005 with Barclays Private Equity / Natexis Industrie and in 2007 with Apax Partners / Lbo France. This succession of buyouts highlights the strong attractiveness of the company's business model.
MAISONS DU MONDE, which reported an EBITDA margin of LOGIN in 2013, is valued in this transaction at an EV/EBITDA multiple of LOGIN, representing a LOGIN to the average currently observed in the Retail & Consumer sector (11.0x).
Note that this data is based on contribution from our growing community, composed of M&A and Private Equity professionals, and has been verified by our team to ensure its accuracy.
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Target
Founded in 1996 by Xavier Marie, Maisons du Monde is a specialty retailer of home decor and furniture, catering to the mass market across all areas of the home. The company has developed a unique concept that combines international inspiration, frequent collection updates, and affordable pricing, enabling it to appeal to a broad customer base seeking diverse decorative styles. The brand offers a highly diversified range of products, including furniture, decorative items, textiles, and accessories for both indoor and outdoor spaces. Its business model is built on a strong international sourcing capability and a curated selection of products inspired by global trends, which are regularly refreshed to maintain a high level of in-store appeal. This approach sets Maisons du Monde apart from more traditional players in the furniture sector.
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Historical Financials (EUR)
Other operations with MAISONS DU MONDE
| Date | Acquirer | Target | Country | Sector | Deal Context |
|---|---|---|---|---|---|
| 05/2016 | PUBLIC MARKETS (IPO) | MAISONS DU MONDE | FRANCE | Retail | Maisons du Monde successfully completed its initial public offering (IPO) on Euronext Paris in May 2016, marking a key milestone in the group's evolution following several leveraged buyout (LBO) cycles |
| 04/2007 | APAX PARTNERS / LBO FRANCE | MAISONS DU MONDE | FRANCE | Retail | Apax Partners and LBO France have formed a 50-50 consortium to acquire Maisons du Monde through a secondary leveraged buyout (LBO), following a competitive sale process. The transaction allows the two funds to take control of approximately 70% of the French home furnishings and decoration specialist's equity, succeeding the previous investor duo of Barclays Private Equity and Ixen, which had supported the company's initial growth phase |
| 06/2005 | BARCLAYS PRIVATE EQUITY / NATEXIS INDUSTRIE | MAISONS DU MONDE | FRANCE | Retail | The transaction involves a joint acquisition of Maisons du Monde by Barclays Private Equity and Natexis Industrie through a management buyout (MBO), with the goal of supporting the company's next phase of growth |
REFERENCES
Valuation range: EV 500M - 1.5b EUR
Revenue range: 450M - 900M EUR
EBITDA range: 50M - 100M EUR
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Authors: verified mynth contributor (mynth data is contributed by M&A / PE professionals and systematically cross-verified with private deal documents and official press releases).
Target: maisons du monde
Acquirer: bain capital