21 Centrale Partners to sell its investment in Hedis

May 05, 2008

21 Centrale Partners announces today the sale of its investment in Hedis, the French n°2 in the BtoB distribution of cleaning and hygiene products, to the management team supported by Sofival. 

In July 2004, 21 Centrale Partners organized the « Owner Buy Out » of Hedis, with the objective to support the company in its development mainly through external acquisitions. Over the last 4 years, the company made 3 acquisitions allowing to expand its geographical coverage and to increase its turnover by 50%.

Hedis has revenues of EUR 96 million and distributes, through its 8 subsidiaries covering a large part of France, a wide range of products for 5 applications: kitchen, clothes, grounds, accommodation and environment.

The transaction allows the CEO to reinforce its stake in the company and to pursue, with the active support of Sofival, the development plan initiated by 21 Centrale Partners with the objective to increase the company revenues to EUR 120 million.

Gérard Pluvinet and Stéphane Perriquet, respectively Founding Managing Partner and Partner at 21 Centrale Partners commented: « This successful partnership between 21 Centrale Partners and Hedis demonstrates our capacity to accelerate significantly the development of our portfolio companies, mainly through active build-up strategies. We are proud of this achievement allowing Hedis to become, in 4 years, a major player in its market.

Bernard Blas, Chaiman of Sofival commented: «I have known Gérard Pluvinet for 15 years and I am very confident of the growth potential of Hedis. I will bring my experience in the distribution sector to accelerate the development mainly through external growth. »

21 Invest France completes its management transition

Announced in 2017, the new governance is now effective and François Barbier becomes CEO of 21 Invest France, succeeding Gérard Pluvinet who joins the Supervisory Board. Meanwhile, the team has signed four acquisitions for its new Fund, which now counts five investments in total.
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