21 Invest France to acquire LV Overseas

21 Invest France enters into exclusive negotiations to acquire LV Overseas, freight forwarding specialist.

The operation allows the exit of the current shareholders led by Azulis Capital, and enables the reinvestment of the Management team, the Balguerie group and BNP Paribas Développement. It should be closed in June 2019. LV Overseas represents the third investment of 21 Invest France’s Fund V.

Founded in 1932, LV Overseas is a freight forwarding agent and customs broker whose core business is located in overseas territories.

Established as a leading independent player in its market, LV Overseas offers a comprehensive range of services in the management of door-to-door freight transport for both import and export. The group fully coordinates logistics, storage, grouping, loading but also administrative and customs formalities mainly for sea transport, and to a lesser extent air and road transport.

The Group's unique expertise and in-depth knowledge of local territories and players enable it to offer tailor-made solutions to more than 7,000 loyal customers who consider LV Overseas as the essential partner in the overseas territories. Thus, the company reaches €M 152 sales in 2018 with a solid profitability.

21 Invest France will rely on the recognized know-how of the longstanding management team to reinforce the Group’s leading position in the French West Indies and Guyana, accelerate its growth in the Reunion Island and optimize synergies with recently acquired companies, especially in the Middle East. LV Overseas also aims to expand its geographic coverage and service offering through organic and external growth. Several acquisitions with strong synergies have already been identified.

Stéphane Perriquet, Managing Partner at 21 Invest comments: ̏ LV Overseas is the perfect example of the type of company we are looking for: strong resilience and steady organic growth in a market with many acquisition opportunities. We are delighted to accompany Philippe Massot and his team in accelerating the development of the group.

Philippe Massot, Chairman of LV Overseas adds: ̏ After a successful first step achieved with Azulis, Balguerie and BNP Développement, I am very happy to be associated with 21 Invest for the years to come. We are looking forward to relying on the expertise of our new partner to implement our numerous expansion and market consolidation projects.

Yann Collignon & Bruno Lavollé, Partners at Azulis Capital declare: ̏ We are proud to have accompanied LV Overseas in its independence from the Sea Invest Group. Brilliantly led by Philippe Massot and his entire team, the company has asserted its historic position in the French West Indies and opened up new promising development areas in the Indian Ocean and the Persian Gulf.

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