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Four years after the entry of Weinberg Capital Partners and Groupe Philippe Ginestet, Besson Chaussures has refinanced its initial unitranche debt through a +\u20ac100 million senior debt and a \u20ac35 million subordinated debt. At closing, net leverage will stand above 3x.<\/strong><\/p>\n\n\n\n Besson Chaussures has grown steadily since 2018, becoming the #2 French shoe retailer in peripheral areas with a network of over 170 stores. Thanks to both stores\u2019 openings and the resilience of its historical perimeter in a challenging environment, sales exceeded \u20ac300 million in 2022 (fiscal year ending in August).<\/p>\n\n\n\n With openings in city centers, malls and abroad in Spain, Besson Chaussures has diversified its stores\u2019 formats to reach a wider customer base.<\/p>\n\n\n\n The company has transformed its model becoming 100% omnichannel through investments in online sales, new digital marketing tools and increased logistic capabilities.<\/p>\n\n\n\n The refinancing secured more competitive conditions with margins below 3% on senior tranches and a significant dividend recap for its shareholders.<\/p>\n\n\n\n Fran\u00e7ois Gireau, CEO of Besson Chaussures, states: \u201cThis operation is a milestone in Besson\u2019s history. It best demonstrates the success of our strategy which relies on three pillars: omnichannel sales, diversification of concepts, and eco-responsibility. I would like to thank our longstanding banking partners and the newcomers for their trust.<\/em>\u201d<\/p>\n\n\n\n Philippe Klocanas, Co-Founding Partner of Weinberg Capital Partners, adds: \u201cThe achievement of such a transaction in the current context, both for its quantum and conditions, is a strong reminder of Besson\u2019s remarkable performances.<\/em>\u201d<\/p>\n\n\n\n Philippe Ginestet, Chairman of Groupe Philippe Ginestet, declares: \u201cBesson\u2019s growth trajectory shows the relevance of its strategy, and this refinancing will support the acceleration of the brand\u2019s development.<\/em>\u201d<\/p>\n\n\n\n Founded in 2005, Weinberg Capital Partners is an independent investment company historically active in buyout capital. In 2008, it broadened its scope to include real estate assets, and since 2015 has been investing in the capital of French listed SMEs\/SMIs as a minority shareholder with an active, friendly and long-term approach. In 2020, Weinberg Capital Partners added to its capacity to invest in SMEs with a minority strategy focused on sustainable development issues, which offers extra-financial support to better prepare companies for environmental and societal challenges.About Weinberg Capital Partners<\/h2>\n\n\n\n
With \u20ac1.6 billion in assets raised, Weinberg Capital Partners is a significant player in the mid-market equity segment in France.
Weinberg Capital Partners is a signatory of the PRI, a member of the International Climate Initiative and an active responsible investor.<\/p>\n\n\n\n