New milestone in the creation of a group specialized in electrical equipment for the transport industry: Proconect group, supported by Capital Export, takes over Minilampe
Since its buy-out by Capital Export and Béatrice Barokhel, the industrial connector manufacturer Proconect has expressed clear ambitions to become the head of a group that is a consolidating force in its market. The acquisition of Minilampe, designer and manufacturer of lighting solutions for over 70 years, is part of this strategy.
Based in Nantes (West of France), Proconect specializes in power connectors for the transport sector (railways, ports, airports, heavy goods vehicles) and the mining industry. The company generates nearly 70% of its turnover internationally.
In July 2020, Capital Export became a majority shareholder of Proconect, to support the takeover of the company by Béatrice Barokhel. The goal of the shareholders is to create a reference group in electrical/electronic equipment for complex and critical environments in the field of Transport, with the will to rapidly increase the turnover. The strategy is based on Proconect’s strong organic growth and an active and selective acquisition policy, of which Minilampe is a new step. Other acquisitions are currently under consideration.
Based in Carcassonne, (South of France), Minilampe designs and markets custom lighting solutions for the aeronautics, defence, rail, industrial and marine sectors. The company has a long and rare historical know-how in the manufacture of incandescent lamps and has mastered their production to a high standard of quality.
The new company, which employs around 50 people, will generate a turnover of almost €15 million for the current financial year.
The operation creates value-added for both companies thanks to significant industrial and commercial synergies. The two companies have complementary expertise for the same markets. “We are addressing the same customers with a good complementarity of high value-added products. This acquisition allows us to reach a critical size and to be able to respond to more substantial calls for tender.” (Béatrice Barokhel, CEO of Proconect).
The combination of the two companies should enable them to significantly strengthen their position on their respective main markets while Capital Export will give them the tools to accelerate their international development. “Minilampe brings its 70 years of experience and its high-quality customer portfolio, particularly in the railway sector. Conversely, Proconect will open up new opportunities, notably in the port markets. The group will also benefit from Capital Export’s support and international relays to develop its turnover on foreign markets. This is a new illustration of our know-how to help SMEs in our territories to succeed in exporting.” (Michel Claret, Partner at Capital Export).
With this new transaction, Aurignac Finance is reinforcing its expertise in the field of electrical and electronic components and sub-assemblies for applications in harsh environments. “Our excellent knowledge of the sector coupled with our acquisition know-how enabled us to quickly identify interesting targets that met the operational challenges of integration and value creation for the group. This acquisition which was completed in a very short timeframe is a crucial step in Proconect’s ambitious growth plan, driven by a management team and shareholders who share together a very relevant strategic vision of consolidating niche know-how for demanding environments. We remain very active in these areas, with other acquisitions under consideration alongside Proconect and several other transactions that we are also supporting, both on the sell-side and the buy-side”.