On February 24, 2023, CALIXTE INVESTISSEMENT (a fund advised by CARVEST) entered into the capital of ORIGIN SEAL, as a minority financial investor, and joined ABÉNEX (the majority fund) and the management team, in order to support the group in its development project.
ORIGIN SEAL was taken over by ABÉNEX, taking over from INITIATIVE & FINANCE and ELIGE CAPITAL, on September 28, 2022, alongside its management team, chaired by Bertrand SÉE. The transaction also allowed the exit of one of the historical founding families.
ORIGIN SEAL is a designer, manufacturer and distributor of industrial seals based in the Rhône-Alpes region of France, with sales of €30 million to a customer base consisting of distributors, MRO players and end customers, which it addresses through its 8 brands, based in France and Belgium. The Group currently employs nearly 180 people. It has a wide range of seals and customized sealing solutions, enabling it to address numerous needs, both as original equipment and as replacements, and a wide variety of end markets, such as hydraulics, energy and food processing. The Group’s mastery of the entire value chain gives it a unique position in the French market. Thanks to its extensive expertise, depth of product range and availability, ORIGIN SEAL addresses a wide range of recurring customers and end markets in France and abroad. Founded in 1992, the Group has distinguished itself by the realization of synergistic external growth, in particular since the entry into the capital of INITIATIVE & FINANCE and ELIGE CAPITAL in 2016, with the completion of four acquisitions.
ABÉNEX and its management now intend to accelerate the consolidation of the market, which is still highly fragmented. CARVEST, thanks to its territorial footprint and the network of the Crédit Agricole Group, aims to contribute to this project.
The ORIGIN SEAL group is a long-standing client of the Crédit Agricole Group at the banking level, in particular of the Crédit Agricole Centre-Est Regional Bank, which supported the September 2022 transaction as lead manager.
Crédit Agricole Régions Investissement (Carvest) is a subsidiary of 11 Crédit Agricole Regional Banks in the centre-east of France. A responsible and committed minority investor, Carvest currently manages more than €300 million in some 140 regional companies. Carvest relies on a team of experienced professionals based in the regions (Lyon, Orléans, Dijon, Strasbourg and Reims).