Compagnie Chargeurs Invest entered into exclusive negotiations to sell a 75% controlling stake in Novacel to KPS Capital Partners, while retaining a 25% minority interest. The all-cash transaction is part of a broader portfolio rebalancing strategy for Chargeurs, allowing the group to reduce debt, strengthen equity, and focus resources on its "Museum Studio" and "Fashion" divisions. For Novacel, backing from KPS provides the capital necessary to pursue external growth and deeper expansion in Asia and LATAM. The deal was favored due to KPS's operational expertise and low-leverage model. Completion is expected in H1 2026.

NOVACEL, which reported an EBITDA margin of LOGIN in 2024, is valued in this transaction at an EV/EBITDA multiple of LOGIN, representing a LOGIN discount to the 10.2x average currently observed in the Industry & Manufacturing sector.

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