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【Paris, Franc】Andera Partners and Bpifrance Support Denis de Becker and Management in the Acquisition of Orest Group, French Leader in Wedding Rings and Access Jewelry

Nov 13, 2018

Editor’s Note

**Editor’s Note:** This article covers the acquisition of Orest Group, a French leader in wedding rings and access jewelry, supported by Andera Partners and Bpifrance. The transaction involves Denis de Becker and management, reinforcing the company’s growth trajectory.

Andera Partners and Bpifrance Support Denis de Becker and Management in the Acquisition of Orest Group, French Leader in Wedding Rings and Access Jewelry

Founded in 1963, Orest is one of Europe’s leading independent creators and manufacturers of entry- to mid-range jewelry. The Group, which leverages over 55 years of expertise and claims a “Made in France” production, has historically specialized in wedding rings and the bridal segment (diamond-set wedding rings and solitaires for the wedding universe). Today, Orest generates nearly €50 million in revenue, focusing on both developing its own brand and producing for major luxury houses.

“Orest has demonstrated expertise recognized by all major European luxury players. The current management team has enabled the group to scale up and become the French leader in wedding rings and access jewelry. Our investment aims to strengthen its financial capacity to increase its innovation and production capabilities.”

Strategic audit: Sokrates (Lubomir MORTCHEV)
Environmental audit: ERM (Julie de Valence)
Insurance audit: Marsh (Humbert d’Autichamp, Ersida AGO)

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Andera Partners and Bpifrance Support Denis de Becker and the …
13 November 2018
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The Orest Group begins a new growth phase with the entry of CABESTAN Capital 2, the small-cap fund of Andera Partners, alongside Bpifrance and the management team led by its President, Denis De Becker.

Paris, November 13, 2018

Thanks to mastery of both industrial (foundry, machining, milling, etc.) and artisanal (jewelry making, stone setting, polishing) skills, Orest offers a wide range of products: wedding rings (diamond-set or plain, in gold or platinum), rings, bracelets, and necklaces, with over 2,000 pieces produced daily.

With the support of the CABESTAN Capital 2 fund and Bpifrance, the Group aims to actively participate in the consolidation of the European market and increase its creation, innovation, and production capacity.

“We are very pleased to welcome CABESTAN and Bpifrance as shareholders of Orest. This transaction will enable our group to accelerate its development and productive investments. Beyond the resources provided by our new investors, we sought an experienced team capable of supporting us in our strategic thinking, international expansion, and the search for acquisition targets.” — Denis De Becker, President of Orest Group

“We were quickly impressed by Orest’s high level of expertise and the technical know-how of its teams. Our partnership aims to support management in its ambitions for the group by providing our international support network and growth-oriented programs.” — Olivier Lévy, Regional Director of SME Equity, Eastern Network, Bpifrance

This is the tenth investment of CABESTAN Capital 2.

Participants

Andera Partners: David ROBIN, Marianne HARLE, Leopold BRICHARD
Bpifrance Investissement: Olivier LEVY, Julie REGNIER
Financial due diligence: EY (Emmanuel PICARD, François ESTIN, Mathilde MEUNIER GARCIA)
Lawyers and legal, tax, and social due diligence: HOGAN LOVELLS (Stéphane HUTEN, Florian BRECHON, Sarah NIADJI, Agathe FAICT, Alexander PREMONT, Luc BONTOUX, Ouassila EL ASRI, Laurent RAGOT), ORION (Olivier BILGER, Carole BAUMERT)
Management: Denis DE BECKER, Nicolas JENNY
Legal counsel: PwC (Jessica HESS)
Sellers: Private individual
Legal counsel: MLA Conseil (Marc LOCHERT)
Banks: Société Générale (Patrick Evin, Denis LE BEL, Nicolas LEVY), Lyxor (Laurent PETIT, Carole FORBAULT, Camille GUILLAIN)

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⏰ Published on: November 13, 2018