International law firm Bird & Bird advised Virgo Group and its shareholders Adaxtra Capital, Bpifrance and Ouest Croissance in connection with the sale of Besnard, a specialist in mechanical parts machining based in La Selle-la-Forge, to a French industrial group.
Besnard joined the Virgo Group portfolio as part of an MBI led in 2017 by Adaxtra PME France 2021, alongside Bpifrance and Ouest Croissance. At the time, the company was generating approximately €4M in revenue with close to €0.45M in EBITDA and employed 35 staff. Besnard has since recorded average annual growth of around 10%, bringing its revenue to nearly €8M.
This sale marks the refocusing of Virgo Group around its sole remaining asset, Microsteel, a precision casting specialist generating approximately €20M in annual revenues.
Bird & Bird advised on the transaction with a team comprising partner Félicien Bardsley and associate Ahmed Khlif.
