Tamburi Investment Partners S.p.A. : TIP acquires a stake in the ROCHE BOBOIS GROUP

04/29/2013

TIP acquires a stake in the ROCHE BOBOIS group

Today, in Paris, Tamburi Investment Partners S.p.A. (« TIP » -www.tipspa.it) acquired almost 20% of Furn-Invest SAS, holding company of Roche Bobois group, the world leader in the creation and selective distribution of high level, design and luxury furniture and home furnishing products.

The group has the largest worldwide chain of high quality furniture stores, with a presence – direct and / or through franchising – currently consisting of 335 stores located in prestigious shopping areas, with a relevant presence in the most important towns of the main countries. The stores are

267 in Europe, 27 between the United States of America and Canada and 41 in South America,

Africa and Asia.

The group also includes the Cuir Center chain, the leading distributor, within the French market, for
leather furniture products, operating through a network of 86 stores – direct and / or through franchising – positioned on a market segment complementary to the one of Roche Bobois.
In 2012, the aggregate turnover of the group (including franchised stores) has been of more than Euro 530 million, while the consolidated turnover – which includes only the direct sales – has been of approximately of Euro 250 million.
The control of the Roche Bobois group is owned by the founding families Roche and Chouchan, who have been in contact with TIP for a long time; almost all of the stake acquired by TIP was owned by the private equity funds Middle Market Fund 2 (managed by Azulis Capital), Siparex SPF III Middle Market (managed by Sigefi), BNP Paribas Developpement and Natio Vie Developpement 3.
Objective of the agreement among the families Roche, Chouchan and TIP – in full agreement with the top management – is to accelerate the process of development, mainly in new cities, also in emerging countries where the luxury goods market is particularly dynamic; given the relevant potentiality of the brand, the proven quality and the high level of products’ design, it is a mutual ambition to increase the growth of revenues, also through new stores openings, of which 17 are already planned in 2013.

TIP executed the transaction through a special purpose vehicle, as already happened in many other investments (Prysmian, Interpump, Printemps, Intercos, Be), in order to organize a further club deal.

In the transaction the sellers and the group has been assisted by Lincoln International for the financial advisory and by Cabinet Bredin Prat & Associes for the legal advisory. TIP has been supported by the Law Firm of Paolo Cerina and by Tamburi & Associati – Athema for the financial advisory.
Declaration of François Roche, Chairman of the Supervisory Board ofRoche Bobois Groupe: « We are very happy to join our forces with those of the Tamburi team. Roche Bobois has always had numerous and important roots in Italy: designers, franchisees, producers and today also a financial partner; this alliance has all and any possibilities to add a new, quite significant page, for the future of our Group ».
Declaration of Giovanni Tamburi, Chairman and CEO of TIP: « We are particularly proud to add to the many excellent companies already invested by TIP also one of the most famous brands in the world of the highest quality and design furnishing products. With the support and resources of TIP, Roche Bobois group could further accelerate its development and achieve even more significant results ».
Paris, April 29th 2013

TIP – Tamburi Investment Partners S.p.A. is an independent investment / merchant bank which invests in companies with « excellent » industrial and entrepreneurial characterists and is also engaged in the advisory activities. Currently holds, directly or indirectly, stakes in listed and unlisted companies including: Prysmian, Amplifon, Datalogic, Interpump, M&C, Be, Bolzoni, Noemalife, Servizi Italia, Monrif, Printemps, Intercos and, from today, Roche Bobois.

www.rochebobois.com

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