Provost Group expands its European presence with its first acquisition in Switzerland in the shelving and handling sector.
/ The Provost Group, a French leader in professional space planning (Workplace solutions) in France for 60 years, has completed the acquisition of the Swiss company Mino & Lorenzini, specializing in the supply and installation of professional storage, handling solutions, and casters.
/ As a family-owned business, with 85% of the capital held by the Provost family, Provost Group achieves a turnover of 180 million euros and is the French leader in manufacturing storage, handling and workspace solutions.
The company stands out for its expertise and commitment to its clients. Since 1963, its mission has been to equip and organize businesses of all sizes and sectors, with a national presence ensured by its 12 offices.
With expertise honed in its French and European factories, it serves over 80,000 clients with a team of 800 employees, including 200 dedicated technicians and sales representatives. It has two subsidiaries in Germany, one in Poland, one in Portugal, one in Belgium, and a design office in Morocco, reinforcing its European market position.
Its products, 80% of which come directly from its factories, cover a wide range, from heavy-duty shelving solutions to freestanding structures and handling equipment. Innovation and quality are at the heart of its approach, with two design offices in France staffed by 20 experts and regular investments in advanced equipment to meet the market’s evolving needs, demonstrating its ongoing commitment to excellence and customer satisfaction.
/ Based in Geneva, Mino & Lorenzini is a historic company specializing in the supply of casters, storage solutions, and handling equipment. With a turnover of 3,4 million Swiss Francs in 2023 and a team of 6 employees, it embodies recognized expertise in its field. Stephan Lorenzini took over the family business with the support of its Managing Director, Laurent Cohendet.
The company is now a reference in its sector and shows promising growth prospects. Its services target a diverse clientele, particularly in the industrial, administrative, and watchmaking sectors, where it is appreciated for its commitment and careful attention to each project.
/ The acquisition of Mino & Lorenzini by the Provost Group represents a decisive step in strengthening the Group’s geographical presence on a European scale. This expansion also marks the group’s entry into the Swiss market with the integration of a company recognized for the quality of its services. This collaboration opens new prospects in a key market, supporting the Group’s European growth strategy.
For Mino & Lorenzini, Provost Group’s approach comes at an opportune moment, offering the company the opportunity to take a new step in its development alongside a family Group sharing the same values, allowing the Swiss company to preserve its identity and methods that have contributed to its success.
An operation led by ALTIOS Corporate Finance
/ ALTIOS Corporate Finance’s role was to support the Provost Group in its external growth strategy in Switzerland. The mandate includes several key stages, from identifying companies with geographical and business synergies with the Provost Group, contacting relevant targets, conducting financial analysis of these targets, to assisting through to closing, in the negotiation phases, and coordinating Due Diligence.
The role of Altios Corporate Finance:
- Screening, market studies, identification, and qualification of potential acquisition targets in several countries
- Approach the qualified targets
- Coordination of negotiations (LOI, SPA, Pact, etc.) and Due Diligences
/ With the completion of this operation, ALTIOS Corporate Finance confirms its ability to support clients in strategic cross-border operations in the Swiss market.
/ ALTIOS Corporate Finance reaffirms its position as a buy-side M&A advisor in international small & mid-cap external growth operations.
Testimony from Provost Group and Mino & Lorenzini
„ We collectively observed that 80% of the products we sold were similar to those distributed by Provost. The remaining 20%, namely the sale of casters, will allow our new majority shareholder to offer innovative solutions to its clients, helping us to chart a new course for Mino & Lorenzini, in line with the new recovery dynamics we have initiated in recent years,” explain Franck Monoyez, CEO of Provost Distribution, and Stéphane Lorenzini, Head of Mino & Lorenzini, who will retain 20% of the company’s shares, with the remaining 10% held by the Branch Manager.”
Franck Monoyez, President of the Provost Group, and Stephan Lorenzini, Shareholder of Mino & Lorenzini
Testimonial of Altios Corporate Finance
„ We are delighted to have finalized this acquisition in Switzerland for the Provost Group. The acquisition of Mino & Lorenzini, one of the historic brands in its field, will enable the Group to continue its European expansion.”
Alexandre Kaplan, Director of M&A and Partner at Altios Corporate Finance
Advisors
Buyer’s advisors:
- Altios Corporate Finance (M&A): Alexandre Kaplan, Alistair Le Gras
- Castaldi Partners (Legal): Gaspare Dori, Margherita Luppi
Contact Press: Alexandre Kaplan, M&A Director, a.kaplan@altios.com
