Azulis Capital and Gimv acquire a majority share in Brunel
Azulis Capital and Gimv, together with BNP Paribas Développement, Synergie Finance and Croissance Nord Pas de Calais, announce today the management buy-out of Brunel (100%). Azulis Capital is the majority shareholder. This operation facilitates the withdrawal of the founders and investors of the previous financing round in 2004, ING Parcom Private Equity, Abénex Capital and CIC Investissement Nord.
The Brunel Group, established in Lille by the brothers Brunel, manufactures high quality household cleaning products: products for floors and other surfaces (Starwax and the ecological product range of Soluvert), products for wood restoration (Kiraviv and Sinto), for metal restoration and other materials (Sinto), and insecticides (Kapo product varieties). The products are marketed for specialised distribution, especially within the large DIY chains. In 2010, the group achieved a turnover of EUR 62 million with a total staff of 260 people. The strength of its brands (Starwax, Sinto, Kapo, Soluvert, etc.) and its strong capacity for innovation (30 new products per year) make Brunel a leader in its market.
The group manufactures most of its products in its two French factories, located in Lille and Aubagne.
The management team, led by Jean-Pierre Dano, is determined to further expand its product lines and enter new distribution channels both within France and abroad.