AXA Private Equity arranged an LMBO of Moteurs Baudouin Paris, December 16, 2004

AXA Private Equity, in association with the management and historical shareholders, has taken a majority stake in the company « Moteurs Baudouin » via an LMBO through its fund AXA Expansion I.
Moteurs Baudouin, based in Marseille, designs, manufactures and sells marine diesel engines that are particularly suited for hostile environments and most heavy-duty industrial applications.
The Baudouin brand name has an excellent reputation and the products are internationally acclaimed for their reliability, long life and low operating costs.
The main applications for its marine engines are for professional use: fishing, freight and passenger transport, tugboats, service applications.
Thanks to a strategy oriented toward selling high quality products to demanding professional customers, and the setting-up of an efficient after-sales service, the company has enjoyed a significant development of its sales and its profitability during the last 5 years.
Through this transaction, AXA Expansion I fund holds 63% of the shares. Thus, Moteurs Baudouin will be able to sustain its growth by developing its market shares in fishery, passengers and fluvial freight, as much in Europe as in Africa and Asia. In addition, the company will pursue its penetration of the yachting segment, a market with strong growth opportunities. Besides, it strengthens its position of supplier of engines and on-board generating sets for the Ministry of defense, regarding maritime and ground applications.

For further information, please visit www.moteurs-baudouin.fr

Principal participants in the operation

AXA Private Equity: Baudouin d’Hérouville, François Jerphagnon

AXA Private Equity advisers:
Legal: Cabinet Nomos (Jean-François Pourdieu, Thibaut Caharel)
Accounting and financial due diligence: Grant Thornton (Frédéric Zeitoun, Nathalie Margraitte)
Tax due diligence: Amyot Juridique & Fiscal (Pascal Grandchamp)
Commercial due diligence: Advention BP (Alban Neveux, Julie Garnier, Julien Berger)
Insurance due diligence: Assurance Saint-Honoré (Martin Ferté, Jean-Noël Delabrousse-Mayoux)

Sellers’ advisers:
Financial: HR Finance
Legal: Cabinet Ginestié Paley-Vincent & Associés

Senior bankers:
Lyonnaise de banque (Thomas Hartweg, Mikaël Poirier) - Arranger
Crédit Agricole Alpes Provence (Christian Givaudan, Laurence de Boissezon) – Co-arranger
Fortis banque (Eric Gallerne, Laurent Bonnin)
Société Marseillaise de Crédit (Francis Papazian, Jean-Pierre de Lartigue)

Banks advisers:
Cabinet Croizat & Huguenin (Frédéric Huguenin, Alexandra Arigoni)