Crédit Mutuel Equity poised to become Milexia’s leading shareholder to bolster its growth plan in France and abroad

Based in Saint-Aubin, in the Paris region, Milexia is a French company of European standing, specialising in the value-added distribution of electronic components and sub-assemblies, as well as scientific instruments, covering a variety of complementary technologies, mainly targeting the defence and space sectors, but also other civilian industries. The three founders wished to take a step back from the company by arranging a transfer which, on the one hand, would strengthen the position of operational managers in the shareholder base, and, on the other, would allow for the entry of a new majority shareholder, Crédit Mutuel Equity, alongside the pool of existing investors. Société Générale Capital Partenaires, Bpifrance, and Isatis Capital, who have supported Milexia since 2018, also reinvested in the company as part of this new project.

In parallel to the reorganisation of its shareholder base, the Milexia group finalised an external growth transaction with the acquisition of the Lyon-based company CEL, Composants Electroniques Lyonnais, which generates € 20 million in turnover. CEL has, over time, specialised in the technical distribution of electronic components, connectors, telecommunication products, and chemicals for the industrial and railway markets.

Created out of the merger of two distributors (one French, one Italian), the Milexia group has continued to grow with the acquisition of other entities, particularly in Spain, the United Kingdom, and Germany. Milexia generates turnover of € 140 million, more than 50% of which is from outside France, and it has over 200 employees spread across five countries.

As a value-added distributor, Milexia assists its customers in the selection and installation of electronic components and sub-assemblies intended for manufacturers in various high-tech sectors, including defence, space, and transport. In parallel, the group has developed two other business lines: the distribution and maintenance of scientific instruments for both public and private research laboratories and the semi-conductor industry, and the distribution of turnkey solutions used for satellite communications.

Present in the high-tech market for the past 30 years, Milexia serves over 2,300 customers, half of which are major corporations in France and the rest of Europe. Xavier Gaillard, the group’s CEO since 2020, intends to continue the company’s organic growth, as well as the M&A strategy successfully implemented over many years, with the objective of doubling turnover within the next five years.

“Milexia’s teams are highly motivated to continue the development of the company alongside a renowned majority shareholder who will bolster the group’s growth in France and internationally. Thanks to its network of offices, its portfolio of equity investments, and the robust support given to managers, Crédit Mutuel Equity will provide us with the means to accelerate our responsible growth strategy, geared towards the improvement of our services and products for our customers, the strengthening of our manufacturing partnerships, and the development and expertise of our teams in France and Europe,” explains Xavier Gaillard, CEO of the Milexia group.

“Milexia has considerable expertise in the distribution of electronic components for diverse, complementary markets and has demonstrated its solid pan-European growth dynamic through successful build-up operations. We wish to support this French player in the pursuit of its ambitious growth plan, which involves both organic and external growth. In addition, the group has developed a high-potential business model thanks to its technical expertise, creating a competitive advantage and commercial opportunities in growing markets,” adds Stéphane Vermot-Desroches, Director at Crédit Mutuel Equity. “Crédit Mutuel Equity will be able to give Milexia the benefit of its network and its track record in supporting mid-size companies at the international level, particularly through its own offices.”

The transaction remains subject to approvals from regulatory authorities.

About Crédit Mutuel Equity:

Crédit Mutuel Equity is home to all of the Private Equity activities of Crédit Mutuel Alliance Fédérale: Capital Développement (Capital Development), Capital Transmission (Capital Transfer), and Capital Innovation.

Crédit Mutuel Equity provides capital support to business leaders at all stages of development of their companies—from start-up to transfer—by giving them the resources and time required to implement their transformation projects. Crédit Mutuel Equity brings together over 350 business leaders, who share their beliefs and pose questions within a true network of entrepreneurs that allows each member, regardless of the nature of their project, to benefit from the experience of others. By investing its own capital (€ 4 billion), Crédit Mutuel Equity finances companies’ projects with timelines that are adapted to their growth strategies, in France, Germany, Switzerland, and Canada.

For more information: www.creditmutuel-equity.eu

About Crédit Mutuel Alliance Fédérale:

A leading French bank and insurance company, with over 75,000 employees and serving over 29 million customers, Crédit Mutuel Alliance Fédérale offers a range of services to individual customers, local professionals, and companies of all sizes, via its 4,500 points of sale. Among the most solid banking groups in Europe, its equity capital amounted to € 53.2 billion and its CET1 ratio stood at 18.8% on 31 December 2021.

Crédit Mutuel Alliance Fédérale brings together the Crédit Mutuel banks of the following federations: Centre Est Europe (Strasbourg), Sud-Est (Lyon), Île-de-France (Paris), Savoie-Mont Blanc (Annecy), Midi-Atlantique (Toulouse), Loire-Atlantique et Centre Ouest (Nantes), Centre (Orléans), Normandie (Caen), Dauphiné-Vivarais (Valence), Méditerranéen (Marseille), Anjou (Angers), Massif Central (Clermont-Ferrand), Antilles-Guyane (Fort-de-France), and Nord Europe (Lille). Crédit Mutuel Alliance Fédérale also includes the Caisse Fédérale de Crédit Mutuel, the Banque Fédérative du Crédit Mutuel (BFCM) and all its subsidiaries, notably CIC, Euro-Information, Assurances du Crédit Mutuel (ACM), TARGOBANK, Cofidis, Banque Européenne du Crédit Mutuel (BECM), Banque de Luxembourg, Banque Transatlantique, and Homiris.

More information is available at www.creditmutuelalliancefederale.fr

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