AXA Private Equity Arranges Mezz Financing for Stokomani Buy

AXA Private Equity said Friday that it will arrange a €22 million mezzanine tranche alongside Euromezzanine to support Sagard’s buy of Stokomani. BNP Paribas and Société Générale are arranging the senior debt supporting the acquisition, with a senior debt package of up to €96 million. Stokomani is a French discount retailer of high-end brands.

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AXA Private Equity, the leading European diversified private equity firm, will arrange a €22 million mezzanine tranche alongside Euromezzanine to support the acquisition of Stokomani by Sagard, the French investment fund. Stokomani is being acquired by Sagard from Advent International, a leading global buyout firm. The transaction is expected to complete in June.

Stokomani is a leading French discount retailer of high-end brands. Throughout its network of 37 stores, Stokomani offers a wide range of branded goods at attractive prices, from clothing, sportswear, beauty and healthcare, toys and homeware. This unique concept, developed by CEO Jean-Jacques Namani, has seen the company double in size over five years, with 2011 sales reaching around €200 million.

BNP Paribas, LCL and Société Générale are mandated to arrange the senior debt supporting the acquisition, with a senior debt package of up to €96 million.
Cécile Mayer-Lévi, Managing Director private Debt at AXA Private Equity, said: “We have been a partner of Stokomani since May 2007 and we are pleased to again support Jean-Jacques Namani and his team as the company moves into the next stage of its development. Our strong existing relationship with the company gave us the opportunity to offer this form of mezzanine financing, which is ideally suited to support Stokomani’s future development.”