21 Invest to sell LV Overseas

21 Invest France, who has been majority shareholder since May 2019 alongside BNP Développement and Balguerie Gestion Participation, has entered into exclusive negotiations with MML Capital and Bpifrance to sell its stake. The transaction, second exit of 21 Invest France's Fund V after DL Software, is expected to be closed by the end of Q1 2022 - subject to customary regulatory approvals.

LV Overseas is an international freight forwarding player specialized in the design and organization of door-to-door logistics solutions. The group offers a full range of services tailor-made to each stage of the supply chain, with a specific know-how in grouping and niche expertise such as industrial projects, fresh and frozen products or out-of-gauge merchandise. The entrepreneurial mindset of the Top Management allows LV Overseas to compete with large logistics corporations and be the trusted partner of its clients.

Thanks to its strengthened organization and proven resilience, LV Overseas has tripled in size over 21 Invest France’s tenure. The group has reinforced its historical position in the French overseas territories while expanding its geographical coverage as well as services range both organically and through the roll-out of an ambitious platform strategy (6 build-ups completed in 3 years). The group has also improved its CSR policy, particularly regarding health, safety and security at work but also regarding environmental matters for which the group has set specific carbon footprint reduction objectives.

The strong dedication of its 500 employees spread on 22 offices worldwide makes it possible for LV Overseas to generate a turnover of €500m, mainly recurring, compared to €150m at the end of 2018, with solid profitability.

This operation rewards the work accomplished over the past few years. The managers of LV Overseas – who are reinvesting significantly in the transaction – will be able to rely on the know-how of MML Capital and Bpifrance in French and international sustainable growth projects to continue its development beyond its current array of transportation expertise and geographies.

Stéphane Perriquet, Managing Partner and Dorothée Chatain, Principal at 21 Invest France say: “The 3 years we have spent alongside Philippe Massot and his team have been a true entrepreneurial journey. Since 2019, the group has successfully deployed its platform strategy with 6 international acquisitions. This particular strategy has enabled LV Overseas to expand its geographical coverage and its range of expertise, but also to significantly strengthen its financial performance. This successful growth story is based on the group's solid fundamentals as well as on its buoyant market, perfectly illustrating the investment strategy of 21 Invest France. We are delighted for MML Capital and Bpifrance to take over and support LV Overseas in the years to come.”

Philippe Massot, CEO of LV Overseas comments: “I would like to thank the 21 Invest France team for the great collaboration we have had together. Their close support and their commitment were decisive in the emergence of the platform as it has become today. With the support of our new partners, LV Overseas aims to further broaden this platform of entrepreneurs, unique in the freight forwarding industry. We are delighted to welcome MML Capital and Bpifrance as new shareholders, to build solid and sustainable growth together for the years to come.”

Henry-Louis Mérieux, Managing Partner at MML Capital and Louis Molis, Large Cap Director at Bpifrance add: “We are very excited to support LV Overseas in its next stage of development. LV Overseas is a great entrepreneurial adventure that combines a strong corporate culture, with an international focus and a unique ability to integrate and create partnerships with a large number of complementary companies willing to join the project. We were also impressed by the group’s partners and clients’ recognition of the quality of service and the proximity of the support offered. »

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