Septentrion Finance has advised Olivier Boin and Henri Bervick on the acquisition of Groupe FDN, a network of dry cleaners
28/09/2023
An acquisition often brings meaningful encounters. The meeting between Olivier Boin and Didier Poignand, founder of Groupe FDN, dates back to the early days of the Covid crisis, when Olivier was Didier’s property landlord in Lille. An immediate rapport developed between the two men as they shared their concerns about the economic challenges posed by successive lockdowns.
A few months later, Didier Poignand announced he was looking for a buyer. Seizing the opportunity, Olivier Boin — who began his career in mortgage brokerage — quickly showed interest. Attracted by the potential of the group, which includes around thirty locations and about one hundred employees, Olivier gradually invested in the company: 5% in December 2020, then 24% a year later.
In July 2023, Olivier Boin completed the acquisition of the group, supported by Henri Bervick (future CFO), two business angels, and investment funds Sopromec Participations and Finorpa SCR.
Olivier is aware that the dry cleaning market, heavily impacted by health and economic crises, is undergoing a transformation. Many challenges lie ahead: new services, digitalization, the energy crisis, ecological transition, among others. His ambition is to consolidate the group’s presence in the Hauts-de-France region and expand nationally. While 90% of the current clientele are individuals, he also aims to target professional customers, with a first project planned for 2024.
The change of ownership became effective on July 17, 2023
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Buy-side advisors:
- M&A: Septentrion Finance (Thibaut Bouchoir, Amélie Crépin)
- Legal: Cabinet Gloaguen et Associés (Bruno Gloaguen)
- Financiers (equity): Sopromec (Stéphane Roy, Stéphane Taunay), Finorpa (Anne-Bénédicte Cambier, Jean-Louis Guerin, Jean-Yves Bacon)
- Financiers (banks): Caisse d’Epargne (Romain Petit), Crédit Agricole (Corine Vasseur, Yann Kulczynski), BPI France (Aurore Montmessin)