RAISE Impact supports Naxicap Partners’ acquisition of the Lagarrigue Group, the French market leader in custom-made orthoprostheses

RAISE Impact, the RAISE group’s impact investment structure, whose France 2i fund has just exceeded its €200m target size, is today announcing the acquisition of an interest in Lagarrigue, the French market leader in custom-made external orthopaedic devices. RAISE Impact will support the company’s development in France and further afield, alongside Naxicap and top-tier financial partners.

The Lagarrigue Group is the French market leader in external orthopaedic devices (prostheses/ortheses) and the custom-made design and manufacturing of large orthopaedic devices. The Lagarrigue Group was founded in 1976. From its base in Toulouse it heads an extensive network of agencies, so that it can tend to its patients locally and efficiently.

The Group has traditionally operated in France, but since 2016 it has been extending its presence to neighbouring countries, specifically Belgium, Switzerland and Spain. This strategy has been made possible by its proactive acquisition policy. The Group’s international activity now accounts for 30% of the total.

Together with Naxicap Partners, the Group aims to consolidate its positioning by extending its network of agencies and continuing to pursue its strategy of vertical integration in the manufacture of components and the development of digital technologies for orthoprosthesis technicians, Corporate Social Responsibility (CSR) being central to its plans. The company’s objective is therefore to maintain its model’s focus on patients, regardless of their disability, age or degree of autonomy.

In the words of Jean-Pierre Mahé and Alain Montean, respectively Chairman and Chief Executive Officer of the Lagarrigue Group:

“During the last five years we have been able to step up the transformation of our company. Together with Naxicap Partners, who we thank for their faith in us, we want to continue to capitalise on the Group’s values and our model’s fundamentals, in order to carry on consolidating our markets and enter new countries”.

“We are pleased to announce the acquisition of a majority interest in Lagarrigue, alongside Jean-Pierre Mahé, Alain Montean, Nathalie Baracetti and their teams. The Group’s expertise, its international positioning and the values held by the senior management team make this a rare investment opportunity and a highly motivating challenge”, says Luc Bertholat, a Member of Naxicap Partners’ Management Board.

“RAISE Impact is particularly proud to be able to assist the entire Lagarrigue team with its development and in this way contribute to the social and professional inclusion of disabled people. We have been impressed by their accounts of the usefulness of Lagarrigue devices in their daily lives”, explain Aglaé Touchard Le Drian and Serge Bedrossian, Co-Heads of RAISE Impact.

• BUYERS

Naxicap Partners: Luc Bertholat, Alban Sarie, Dominique Frances, Claire Lesellier

Lagarrigue: Jean-Pierre Mahé, Alain Montean, Nathalie Baracetti

• VENDORS

Ardian Expansion: Marie Arnaud-Battandier, Arthur de Salins, Maxime Séquier, Romain Gautron

IXO PE: Bruno de Cambiaire, Nicolas Olivès

• CO-INVESTORS

Halisol: Mikael Vercauteren, Etienne Harcos

Eurazeo: Jean Plamondon, Amine Rais, Mahdi Benerradi, Morgane Prat, Ala Sarsout

IDIA Capital Investissement: Cédric Fontaine, Céline Arsac, Guillaume Boccamaiello, Clément Chabbert

Grand Sud-Ouest Capital: Laurent Mazard

Raise: Serge Bedrossian, Maud Lehman, Alexandre Cordel

IRDI: Corinne d’Agrain, Nathalie Triolet, Alexandre Tissot

Multicroissance: Pierre-François Brunot, Philippe Pla, Hugo Pelissou

• M&A ADVISORS, Buyer

Clearwater: Benjamin Zayat, Grégoire Houëdry, Marc-Aurèle Taverna

Oaklins: Hadrien Mollard, Jean-Pierre Chometon, Raphaël Petit

• FINANCING ADVISORS, Buyer

Clearwater: Laurence de Rosamel, Paul Assael

• BDD

Strategy: Indefi (Julien Berger), Cepton Stratégies (Francis Turina-Malard, Pierbruno Ricci)

Finance: Accuracy (Arnaud Lambert, Mathieu Philippot)

Legal, HR, Tax: McDermott Will & Emery AARPI

• LAWYERS, Buyer

McDermott Will & Emery AARPI: Henri Pieyre de Mandiargues, Stanislas Offroy, Antonia Teleman and Boris Wolkoff (corporate), Pierre-Arnoux Mayoly, Shirin Deyhim, Nathalia Tekely and Clarisse de Roux (financing), and Antoine Vergnat, Côme de Saint Vincent and Fanny Le Pogam (tax)

• VDD

Strategy: BCG (Benjamin Entraygues, Benjamin Sarfati)

Finance: Eight Advisory (Florent Garnier, Pierre-David Forterre, Julie Vuarchex, Richard Emery)

Tax: Delaby & Dorison (Emmanuel Delaby, Romain Hantz, Alexandre Tardif)

Legal: Valoren (Capucine Mesas)

HR: MGG Voltaire (Marijke Granier-Guillemarre)

ESG: Indefi (Emmanuel Parmentier, Joanna Tirbakh)

IT: Netsystem (Olivier Cazzulo, Lionel Gros)

• M&A and FINANCING

Edmond de Rothschild Corporate Finance (M&A): Arnaud Petit, Julien Donarier, Anastasia Saldi, Hamza El Abboubi, Hervé Bizot

Edmond de Rothschild Corporate Finance (Financing): Grégory Fradelizi, Nicolas Lévy

• ACQUISITION FINANCING

Ardian Private Debt: Guillaume Chinardet, Grégory Pernot, Clément Chidiac, Hadrien Barnier

Ardian Private Debt’s Lawyers (Winston & Strawn): Mounir Letayf, Adeline Roboam and Alexandre Desroches

CIC Private Debt: Pierre-Jean Mouesca, Antoine Guérillon

CIC Private Debt’s Lawyers (Allen & Overy): Thomas Roy, Jonas Brucker

• VENDORS’ LAWYERS

Weil Gotshal & Manges: Frédéric Cazals, Alexandra Stoicescu, Cassandre Porges, Nicolas Mayol

• MANAGEMENT ADVISORS

Agilys Avocats: Baptiste Bellone, Carolle Thain-Navarro, Sophie Auvergne

Callisto Finance: Vincent Aymé, Tancrède Caulliez