- Clipperton acted as sole financial advisor to CLAREO Lighting, a new-gen French designer and manufacturer of LED lighting products and solutions for professionals, on its €35m LBO with NextStage AM, MI3, BNP Paribas Développement, and Adelie.
- With those new strategic investors, CLAREO intends to accelerate its development and become a benchmark in the LED lighting market in France and Europe.
- This transaction further highlights Clipperton’s proficiency in executing LBOs, its deal management capabilities as well as debt structuring know-how.
Our Client
- Since its creation in 2012 by Olivier Maschino and Damien Sipos, CLAREO has established itself in France as a key player in designing professional LED lighting products and solutions. CLAREO directly addresses major electrical installers, architects, design offices, and end customers, mainly in the tertiary (offices, retail, hotels, etc.) and industry sectors.
- At the heart of energy transition issues, with an LED lighting offering that has a positive environmental impact and helps reduce energy consumption, CLAREO has been working to integrate ESG issues into its business model since its creation. EcoVadis silver medallist since 2022, the group has an ambitious ESG approach to continue progressing and to position itself as a leader in its market (eco-design, responsible purchasing, social practices, etc.).
- The market for professional LED lighting is particularly buoyant in France, estimated to be worth over €1 billion by 2022, with +5% annual growth expected between now and 2028, driven in particular by building renovation, which is being accelerated thanks to an increasingly incentive-based regulatory framework in favor of energy efficiency, and by a still very significant equipment potential in the tertiary and industrial sectors.
Deal Rationale
- This transaction with NextStage AM, MI3, BNP Paribas Développement, and Adelie brings Tier-1 investors to the capitalization table which will support CLAREO’s ongoing development. A debt component has been secured with Banque Palatine, BNP Paribas, and Crédit Agricole on top of the €35m equity ticket.
- With this investment, CLAREO intends to continue developing its offering, strengthen the integration of innovation and smart lighting, and accelerate its international deployment, particularly in cross-border countries, both organically and through strategic external growth acquisitions.
- “In 12 years, CLAREO has achieved the strongest organic growth within its market. Today, CLAREO achieves over €40m in sales and has already become a reference player in terms of its size, the quality of its products, its lead in services, and its marketing and digital approach. When a group reaches this size, it is useful to structure it accordingly to pursue strong development, and I’m thrilled to be associated with 4 renowned financial partners, each of whom will play a role in the continuation of this great adventure“, said Olivier Maschino, co-founder and Chairman of CLAREO.
- “I’m delighted to see a new milestone in CLAREO’s history that will enable us to accelerate innovation in the development of new products and services, to get even closer to the needs and expectations of our ever-growing customer base, but also to go further in our ESG and CSR commitments. These new partners will provide solid support in imagining and designing tomorrow’s finest lighting solutions, both for France and Europe“, declares Damien Sipos, co-founder and Vice-Chairman of CLAREO.
Clipperton’s extensive growth buy-out track record
- This deal confirms Clipperton’s extensive expertise with tech buy-out mandates, successfully advising on recent transactions such as Braincube’s €83m investment led by Scottish Equity Partners, CAPZA’s minority stake acquisition in Travelsoft, or Bridgepoint’s majority acquisition in Groupe Sinari.
Deal Team
- Nicolas von Bülow, Managing Partner
- Martin Vielle, Partner
- Karim Mekouar, Vice President
- Ghislain de Buchet, Vice President
- Pierre Pinsault, Analyst
Read the French press release here.
About Clipperton
Clipperton is a leading investment bank dedicated to technology and growth companies. We provide strategic and financial advisory to entrepreneurs, corporates, and top-tier investors in Europe willing to execute transactions such as strategic M&A, private equity transactions, and private placements. Founded in 2003 and with offices in Paris, Berlin, Munich, London, New York, and Beijing, Clipperton has completed over 400 M&A and private placement transactions with fast-growing technology start-ups, blue-chip corporates, and renowned financial investors.