A partnership with an excellent profile

Transcription

1 October 2014 BILCOCQ-DUVAL & CM-CIC Capital Finance A partnership with an excellent profile

2 Bilcocq-Duval was founded in 1962 and in the last 15 years has become France s leading producer of waterproof thresholds and a major supplier of hardware products. CEO François de Labarthe explains how he transformed the company from a «sleeping giant» into a key player in its sector with imminent plans for international expansion. François de Labarthe

3 BILCOCQ-DUVAL and CM-CIC Capital Finance, a flawless partnership. You acquired Bilcocq in What attracted you to the company? François de Labarthe: After 20 years working in the distribution of industrial supplies and after selling my first company, I wanted to start a new adventure. Bilcocq had excellent potential, and the price was right. The company designed and produced good products, but was not sufficiently customer-oriented. I saw major potential for development in that area, and that s what appealed to me. Is that why you put together a comprehensive range of services? F.L.: Yes. We do a lot of pre-sales work through direct contact with our endcustomers and distributors, which specialise in hardware products for the building industry. We made major efforts with our technical documents and installation instructions, which are available online. Our customer services department acts as a hotline for technical information. All of this is supported by highly flexible production facilities, which mean we can ensure that our product lines standard or custom are constantly available, and we offer just-in-time delivery for certain large customers. That responsiveness makes a real difference. What role does innovation play in your industry? F.L.: Some might find it surprising, but innovation is crucial, because changing standards (thermal insulation, accessibility for people with reduced mobility etc.) have caused major upheaval in the building industry in the last 10 years. They have created a great growth opportunity for a company able to meet the market s new requirements. As well as building up our sales and marketing operation, we therefore focused on innovation by setting up research units, prototyping equipment and a testing laboratory to improve our products. You also invested in another business called Duval. F.L.: Duval mainly interested me because it complemented Bilcocq very well, offering synergies at all levels. Its products (tubular handles, railings etc.) are made from the same raw materials. Its production facilities are the same as

4 Bilcocq s, and so are its customers and distribution channels, to the extent that we have combined both companies on the same site. The acquisition has also provided the main platform for our organic growth. We have realised that our reputation as a service-provider and supplier makes our distributor customers highly receptive to any new products that we offer. For example, we have recently launched a new range of stainless steel railings. What is your next challenge? F.L.: We are planning to expand abroad, on a trial basis to start with. Increasingly widespread use of PvC, together with European standards, mean that the specific features that previously created entry barriers to certain markets are no longer there. We are particularly interested in central European countries. What is CM-CIC Capital Finance s role in your development? F.L.: Since our secondary MBO in 2009, CM-CIC Capital Finance has been our key contact, helping us to plan our development, both organically and through acquisition. Our relationship is built on trust, a high level of autonomy and total transparency. We are always discussing things. 10 m in revenue 42 employees 3,000 active product lines

5 LANSON-BCC as seen by Amaury Leleu, CM-CIC Capital Finance. Amaury Leleu CM-CIC Capital Finance started working with Bilcocq-Duval in January 2009 when a secondary MBO enabled current CEO François de Labarthe and the main managers to increase their ownership of the group. Under François de Labarthe s leadership, Bilcocq-Duval s teams have implemented an ambitious and strongly customeroriented development plan. Using its expertise in key parts of the value chain (design, sourcing and manufacturing), the group has developed broad but consistent product ranges whose quality and technical excellence are acknowledged by all sector professionals. Bilcocq-Duval has positioned itself as a partner that can meet all of its customers requirements through a range of high-value-added services: standard or full-custom products, guaranteed availability from stock and just-in-time delivery management, technical support and advice at both the pre-sales and after-sales stages, single-unit orders or large production runs etc. As a result, the group is ideally positioned to continue its development both in France and abroad. We hold regular, totally transparent discussions, in which we are able to examine all of Bilcocq-Duval s numerous future growth plans.

6 Edmund Hillary and Tensing Norgay s ascent of Everest in Jacques Piccard and Don Walsh s record dive in the Mariana Trench in Mermoz and Guillaumet s opening of the Andes line in The Americans moon landing in NOTHING IMPORTANT IS ACHIEVED WITHOUT TRUST This conviction inspires the men and women of CM-CIC Capital Finance on a day-to-day basis in their relations with the entrepreneurs they work with over the long term. We cover all areas of corporate fi nance - including venture capital, expansion capital, buyout fi nancing and M&A advisory - in order to meet companies equity fi nancing needs. In addition to professionalism, it is this resolutely people-based view of the business and this local relationship with business owners that characterise the success of our approach. CM-CIC Capital Finance - Lille 33, avenue Le Corbusier LILLE Tél Paris - Lyon - Nantes - Lille - Strasbourg - Bordeaux - Montréal Head office 28 avenue de l Opéra PARIS