Bryan, Garnier & Co. Successfully Leads a €15 Million Reserved Issue of Bonds with Warrants for ModeLabs Group
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Paris, December 18th 2009 – Bryan, Garnier & Co, the independent pan-European investment bank focused on growth companies announces the closing of a € 15 million PIPE using bonds with warrants for ModeLabs Group. Bryan Garnier was sole manager of the offering arranged with the Fairbanks Investment Fund.
ModeLabs Group is a creator and distributor of mobile handsets under fashion and luxury brands and a telecom distributor. Over the last few years, the group has gained strong capabilities in designing, developing and distributing handsets for internationally recognised fashion and luxury brands. Pioneering the industry with a license business model, the group has become a reference player within the luxury mobile phone market following the commercial launch of products under the TAG HEUER and DIOR brands in early 2009. The group recently signed a worldwide exclusive license agreement with LACOSTE.
Through this transaction, ModeLabs Group further strengthens its financial capabilities to accelerate the development of its Manufacture division. Funds will provide financial leeway to expand ModeLabs Group’s license portfolio, create and develop new handsets and broaden its international selective distribution network (department stores, fashion stores and watch & jewellery stores).
The Fairbanks Investment Fund, which partners with Banque de Vizille for the transaction, will bring its experience in accompanying growth companies as well as its international network of influence. Shannon Fairbanks has been nominated as a member of the Supervisory Board of ModeLabs Group.
Grégoire Revenu, Managing Director at Bryan, Garnier & Co, commented: “Following a remarkable entry into the handset distribution market, with the group reaching a leading position in a few years, ModeLabs Group has anticipated early on the evolution of mobile devices into “identity” products. We are glad to support this successful company. This transaction stands at the core of our strategy of accompanying growth companies.”
Stéphane Bohbot, Chairman of the Executive Board of ModeLabs Group, declared: “In addition to its recognised international investment expertise, The Fairbanks Investment Fund, which fully shares our vision of the market, will provide us with the benefit of its experience in the development of growth companies. Bryan, Garnier & Co has been a key partner in this transaction, targeting the right investors and structuring an optimal transaction in a historically adverse market environment.”
Shannon Fairbanks, the founder of The Fairbanks Investment Fund, commented: “I am very excited about having entered into this partnership with ModeLabs Group which has demonstrated its capacity for expressing luxury brands’ identity via mobile phones, and which is now ideally placed to confirm its position as the market leader for the design and manufacture of mobiles on behalf of brands wishing to develop a presence within the luxury mobile market.”
For more information, please contact:
Olivier Beaudouin, Director – Corporate Finance / +33 1 56 68 75 35 | obeaudouin@bryangarnier.com
Vincent Gasné, Vice President – Corporate Finance / +33 1 56 68 75 93 | vgasne@bryangarnier.com
About ModeLabs Group
ModeLabs Group (Isin: FR 0010060665), creator of tailor-made handsets and telecom distributor, is a new generation player in the mobile phone sector. The company designs, develops and markets mobile phone handsets, accessories and services in an integrated and flexible manner for mobile phone operators, retailers and major brands. Its activities are structured within two strategic divisions:
– ModeLabs Manufacture integrates conception and design expertise and technological know-how to give luxury (TAG Heuer, Dior) and lifestyle (Lacoste, MTV…) brands the opportunity to create their own range of mobile phones, accessories and services, and ensures qualitative and selective distribution over three continents in department stores, fashion stores and watch and jewellery stores;
– ModeLabs Distribution, specialist and leader in France in the distribution of mobile phones and accessories, is present in each distribution sector: networks, MVNO, mass merchandisers, multi-specialists, telecom specialists, other retailers and e-business.
About The Fairbanks Investment Fund
The Fairbanks Investment Fund, founded by Mrs Shannon Fairbanks, acquires minority interests in medium-sized enterprises and accompanies them in their process of development. In France, Mrs Fairbanks has already participated in major transactions such as co-investments, alongside the controlling family interests, in Tarkett (ex-Sommer Allibert Industries) and Porthault (luxury household fabrics) which supported the founding family in the development of its US operations. In the past, Fairbanks family funds have also made various investments worldwide, in particular in the oil and gas sectors.