Septentrion Finance has advised Sofinor on the acquisition of Mapal, a manufacturer of stainless steel equipment
29/03/2021
SOFINOR, a specialist in stainless steel equipment, expands through the acquisition of Lyon-based company MAPAL
SOFINOR, a French manufacturer of stainless steel equipment specializing in food service and out-of-home catering, announces its ongoing development with the acquisition of MAPAL, a Lyon-based company supplying solutions for the preparation, storage, and presentation of fresh products in large retail.
With the official takeover of MAPAL, Guillaume Deleau, President of SOFINOR, marks a new milestone in the growth of his company. By expanding into new geographic areas and customer segments, the group is becoming a key player in stainless steel equipment in Europe.
MAPAL: an acquisition reflecting SOFINOR group’s dynamism and ambitions
Following the first lockdown, during an initial meeting, Guillaume Deleau and Claude Lair, President of MAPAL (which he has led alongside co-founder Robert Lapalu for over 30 years), quickly recognized the mutual benefits of merging their companies.
Both firms specialize in stainless steel equipment and are highly complementary, both in terms of client segments and product ranges.
SOFINOR primarily serves the out-of-home catering sector, including companies specializing in kitchen equipment and design for collective catering (central kitchens, hospitals, corporate restaurants), as well as private restaurants and hotels. MAPAL, on the other hand, mainly serves food professionals within large retail chains and traditional shops.
SOFINOR operates mainly in Northern France and Brittany, while MAPAL is located in Lyon and Poland.
This acquisition expands SOFINOR’s geographical footprint in France and leverages the Polish base to boost export activities, which already represent 25% of its revenue.
Claude Lair and Guillaume Deleau share the same vision: “SOFINOR, through the complementarity of its offerings and clientele, represents the best choice to ensure MAPAL’s development and sustainability.”
By combining the strengths of both groups, Guillaume Deleau aims to compete with European rivals: “We will leverage this merger to broaden our product range, unify teams, and optimize resources.”
He also sees opportunities to continue innovating (having won major innovation awards at Europain, Sirha, and Host Milano trade shows) and to provide the best solutions to clients, particularly restaurateurs “who are struggling and with whom we are closely connected and committed,” once restrictions are lifted.
The combined entity now employs 170 people and generates €28 million in revenue. Sébastien Gros d’Aillon, SOFINOR’s Commercial Director, will also take on leadership of MAPAL’s operations in Lyon.
SOFINOR aims to reach €30 million in revenue within two years and targets €50 million in five years.
About SOFINOR and MAPAL:
SOFINOR is a French manufacturer specializing in stainless steel equipment for food professionals and out-of-home catering. The company employs 105 people and serves 2,500 clients, generating over €20 million in revenue in 2020. SOFINOR also develops the Arcania brand (medical equipment) and Inotech (rotisseries and display cases).
MAPAL supplies solutions for the preparation, storage, and presentation of fresh products in large retail and traditional shops. The company employs 65 people and generated €8 million in revenue in 2020.
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Buy-side advisors:
- M&A: Septentrion Finance (Guillaume Tiberghien, Pierre-Henry Martin)
- Legal: Euraconseil (Thierry Wemaere, Sophie Van Ommeslaeghe)
- Financial due diligences: Valoxy (Ludovic Tiberghien)
- Financiers (banks): CIC (Marie-France Vannier, Florence Daras Delcourt), (Nicolas Oddo, Maxime Couchey)
Sell-side advisors:
- M&A: Safigec (Franck Patricot)
- Legal: Ratheaux avocats (Cécile Baron)