Tikehau Capital has provided €150 million of stretched senior debt to support TowerBrook’s purchase of household equipment specialist JJA.
The financing helps private equity sponsor TowerBrook to acquire a minority stake in JJA and to finance the company’s growth, which will focus on developing its international presence.
TowerBrook’s acquisition, first announced at the beginning of March2018, will seek to use its experience in the B2B products sector to accelerate the firm’s growth. TowerBrook said it has recently completed several similar partnership deals.
The company was founded in 1976 and provides B2B products and services focused on household equipment to B2C retailers in France. It offers furniture, home decorations, kitchen and tableware among a catalogue of 19,000 products. It owns several of its own brands in each product category.
The firm employs approximately 520 staff and is headquartered in Le Blanc-Mesnil near Paris.