Kartesia invests alongside Florac in BricoPrive.com, the French leading online flash sales platform dedicated to DIY, gardening and home
Kartesia, the European specialist provider of capital solutions for small and mid-sized companies, is pleased to announce its investment alongside Florac in BricoPrive.com.
The deal was led by Matthieu Delamaire, Managing Partner, and Kartesia acted as sole unitranche provider and minority shareholder alongside Florac, Julien Boué and Marc Leverger, co-founders of Brico Privé.
Founded in Toulouse in 2012, Bricoprive.com runs a dozen daily flash sales offering a wide range of professional-quality products to its six million members. On the back of a strong value proposition, unrivalled expertise in sourcing quality products in partnership with suppliers and solid digital experience, the company has evolved to become one of the leaders in the sector. The group estimates 2018 revenues to reach EUR100 million with its operations in four countries; France, Spain, Italy and Portugal. In addition, the company developed a dual B2C and B2B market strategy through Bricoprive.com and Racetools.fr.
Both new and existing shareholders of Brico Privé are supportive of the management team and the ambitious growth plan for the group. The key strategic initiatives of the group are to consolidate its presence in France whilst simultaneously accelerating its international reach, improve customer experience and retention as well as expand its penetration in the B2B sector through Racetools.fr.
Matthieu Delamaire, founding partner of Kartesia said: “Kartesia is thrilled to invest alongside Florac and accompany Brico Privé’s highly motivated management team in this new phase of development with both internal and external strategies. This investment reflects Kartesia’s ability to provide financial sponsors with certainty of funds in a collaborative and responsive manner in what was a highly competitive process. ”
With offices in Paris and Los Angeles, Florac is an investment firm chaired by Marie-Jeanne Meyer, historical shareholder of the Louis Dreyfus group and managed in Europe by Léopold Meyer.
Florac invests single amounts between EUR20M and EUR150M in equity and quasi equity with a flexible exit horizon alongside founders, managers and strategic partners in companies with strong development potential and managed by excellent management teams.
Since its foundation in 2009, Florac has invested in 10 companies across Europe and Northern America.