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Bertrand Thimonier
Chairman, Founder
Guillaume Dary
Managing Partner
Romain Massiah
Managing Partner
Guillaume Capelle
Managing Partner
Gilles Coudon
Managing Director
Marc Lebrun
Director
Louis Vercken
Managing Director

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  • 03/2020 - Adviso Partners advises the shareholders of the max plus group in its sale to Paul Dehaen, backed by the Milestone fund

    Founded in 1993 by Alain DECLERCQ and Muriel SARRAZYN, the MAX PLUS group specialises in the distribution of stock clearance items through a network of around fifty stores covering the western half of France. The Group distributes brand-name products that are no longer suitable for traditional retail channels, including: clearance stock, surplus stock, end-of-line items, items whose packaging has changed, de-listed items, etc. The products distributed fall under the personal and household goods categories (textiles, toiletries, cleaning products, foods, DIY items, toys, educational items, etc.).

    Thanks to its long-established expertise in purchasing discontinued goods, the MAX PLUS group has achieved a three-fold increase in its network's points of sale in five years, and in 2019 generated turnover of approximately €50 million.

    Advised by ADVISO PARTNERS, the shareholders have transferred the Group's entire share capital to PAUL DEHAEN, backed by the MILESTONE investment fund, following a process involving sector players. The Belgian group's project won shareholders' support, notably thanks to the synergies generated in terms of sourcing and distribution channels by merging the two groups, as well as the proposed development project. PAUL DEHAEN, a wholesaler and the European leader in stock clearance for toiletries and household cleaning products, operates eight stores under the NET brand in Belgium. It has been owned since February 2017 by investment firm MILESTONE. This transformative deal will enable the new group to increase its presence in France and develop its B2C network.

    "We selected the PAUL DEHAEN group, which convinced us of its ability to ensure the continuity and sustainability of the MAX PLUS group while further expanding its presence in France." - Muriel SARRAZYN and David DECLERCQ, MAX PLUS.

    "This merger between two leading groups will produce the only European player able to offer a one-stop solution to manufacturers for the sale of their high-quality clearance products. Indeed, we now have a highly diversified network of distribution channels: NET stores, MAX PLUS stores, and a specific e-commerce network in Belgium and France. This new group will also provide an environment in which all current and future staff will have the opportunity to optimise their talent, their creativity and their desire to play an important role in minimising waste and recovering quality products." - Jean-Philippe HABRAN, CEO of PAUL DEHAEN.

    "We are very pleased to contribute to Paul Dehaen's development through this acquisition, which enables the group to considerably increase its size, expand its presence in France and generate clear synergies. Milestone is convinced of the strong potential harboured by the stock clearance sector, which promotes more responsible consumption by keeping perfectly good high-quality products in distribution channels at very attractive prices for consumers." - Jerome FOURNIER LE RAY, Director, MILESTONE.

    "In the booming market for low-cost non-food items, Max Plus is a benchmark in the western half of France. Its excellent reputation with suppliers, its extensive store network coupled with a strong regional presence, and its continual arrivals of varied stock made this Rennes-based company a great opportunity in the clearance sector. On the lookout for good deals, the Paul Dehaen group made no mistake here and soon convinced Muriel Sarrazyn and David Declercq by offering them a long-term European-scale growth project" - Guillaume DARY, Partner with ADVISO PARTNERS.

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