RemadeGroup, the smartphone remanufacturing specialist, secures a €125m unitranche financing from LGT European Capital acting as Mandated Lead Arranger with Idinvest Partners and Swen Capital Partners as co-investors.
RemadeGroup announced today that entities managed by LGT European Capital have arranged a €125m unitranche, with Idinvest Partners and Swen Capital Partners, to support the organic growth of the Group and refinance its existing debts.
Founded by Matthieu Millet in 2013, RemadeGroup has rapidly become the leading player in the premium smartphone remanufacturing market in Europe through its brand Remade. With two production facilities based in Avranches (Normandy, France) and more than 850 employees, RemadeGroup reached €130m of revenues in 2017.
The expansion of the Group is driven by a dynamic global refurbished smartphone market as well as the development by RemadeGroup of a state-of-the-art remanufacturing process delivering high quality products. With its international sourcing and broad distribution reach, RemadeGroup has become a reference for high-end remanufactured smartphones for retailers and end-users.
RemadeGroup also has ambitions beyond Europe: the Group has recently extended its activities in the US, with a new production facility to be opened in Miami, and is progressively expanding its footprint in Africa (since the beginning of the year) and in Asia.
Matthieu Millet, founder and main shareholder, is being supported by Private Equity funds Novi 2, TempoCap and Alter Equity 3P. RemadeGroup has chosen LGT European Capital for its unitranche financing as a long-term financing partner with Idinvest Partners and Swen Capital Partners investing alongside entities managed by LGT European Capital. This operation secures the financing of the Group’s upcoming industrial investments and boosts its sourcing capacity.
RemadeGroup was advised by Clearwater International for this transaction, which is one of the largest unitranche on the French market in 2018 to date. The Clearwater International team, led by Laurence de Rosamel, Managing Director, composed of Paul Assaël, Associate and Léa Joly, Analyst.