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04 March 2010
02 March 2010
01 March 2010
Lovells advised Investors in Private Equity (IPE) on the financing of an expansion of luxury brands holding company Compagnie Europeenne de Luxe et Traditions (CELT). The expansion includes the acquisition of Cristal & Bronze, a specialist in luxury bathrooms accessories, for an undisclosed sum.
CELT is a Luxemburg holding company created by IPE in order to acquire Odiot, a French goldsmith, in 2007. It operates as a long-term investor to develop small and medium sized businesses in Europe that specialise in luxury crafts. To fund the latest acquisition, CELT has combined capital stocks and senior debt. Cristal & Bronze was acquired from the founders' family.
The Lovells team was led by Paris-based banking partner Richard Jadot with assistance from banking associate Camille Bakouch.
Comment
We are delighted to advise IPE on this expansion of CELT. This deal demonstrates that strategic investment is continuing despite the challenging market conditions.