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03/2016

HELLER JOUSTRA acquired by MAPED

FRANCE Consumer Products REV 5M - 25M EUR

Context

Maped's acquisition of Heller Joustra for 1.5 million euros through a court-sanctioned restructuring proceeding at the Argentan commercial court marks a decisive consolidation intended to mitigate back-to-school seasonal concentration by scaling up into the adjacent juvenile creative leisure sector. The transaction follows a severe liquidity crisis under the prior ownership of New York Finance Innovation, where a debt burden matching annualized revenues and acute working capital starvation paralyzed the target's procurement of critical imported components. By absorbing the asset, Maped stabilizes the Normandy manufacturing facility through immediate balance sheet remediation, injecting the necessary liquidity to clear supply chain bottlenecks and restore high fulfillment rates for retail clients. The immediate post-merger integration schedule prioritizes manufacturing stabilization ahead of the upcoming distribution cycle, followed by the deployment of Heller Joustra's product portfolio across Maped’s international distribution footprint to expand export volumes. Operational continuity is preserved through the retention of the local management team, combining their specific sector expertise with Maped's superior procurement leverage and corporate retail access to maximize facility utilization and drive cross-selling synergies.

HELLER JOUSTRA, which reported an EBITDA margin of LOGIN in 2015, is valued in this transaction at an EV/EBITDA multiple of LOGIN, a level to compare with 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

Heller Joustra operates as a domestic designer and manufacturer of plastic scale model kits and children's creative activity sets, utilizing an integrated manufacturing facility in Trun, Normandy, to process plastic injection molding and assemble complex recreational products. The company sells its proprietary product lines, including historic model aircraft, automotive kits, and creative workshop products like mandalas and pottery sets, directly to major retail purchasing desks and specialized toy store chains. Revenue generation is governed by rigid annual catalog placement cycles, with high volume requirements ahead of the winter holiday trading period. The operational profile requires substantial upfront working capital absorption to fund sustained manufacturing runs months before cash collection from large retail distributors. Financial performance is highly sensitive to raw material input costs and the timely procurement of critical imported components like electric motors.

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Historical Financials (EUR)

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REFERENCES

Revenue range: 5M - 25M 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: heller joustra

Acquirer: maped