The Brunel Group, a Lille, France-based manufacturer of high quality household cleaning products, has received an equity investment of undisclosed amount from Azulis Capital and Gimv.
Along with BNP Paribas Développement, Synergie Finance and Croissance Nord Pas de Calais, they supported the management buy-out of the company by a team led by Jean-Pierre Dano, which intends to further expand Brunel’s product lines and enter new distribution channels both within France and abroad.
This operation facilitated the exit of the founders and investors of the previous financing round in 2004, including ING Parcom Private Equity, Abénex Capital and CIC Investissement Nord.
Following the transaction, Azulis Capital became the majority shareholder in the company, which manufactures 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).
In 2010, the group, which manufactures most of its products in its two Lille- and Aubagne-based factories, achieved a turnover of €62m with a staff of 260 employees.