Paris Office Advises Bain Capital on Sale of Majority Stake in Novacap

January 26, 2011

Bain Capital sells its majority stake in Novacap to AXA Private Equity for approximately €240 million.

On January 25, Willkie client Bain Capital announced it has reached an agreement to sell its majority stake in Novacap to AXA Private Equity for an enterprise value of approximately €240 million. Novacap, a mineral and organic chemicals company, was founded in 2003 when Bain Capital completed a "carve-out" from Rhodia. With 470 employees, Novacap has a global turnover of €470 million. The transaction is subject to the approval of the antitrust authorities as well as other required governmental authorizations.

The transaction was handled by partners Cédric Hajage, Daniel Payan, David Tayar and Vincent Brenot; European counsel Jeffrey Fouts and Gregoire Finance; and associate Agnès Macaire.