* Final offers due in early June-sources
* Chain seen adding 20 stores in 2013
* Elior, Nocibe bids also due in June-sources
By Christian Plumb
PARIS, May 30 Bain Capital LLC and AXA Private
Equity are the finalists in the bidding contest for French
furniture-store chain Maisons du Monde, owned by private equity
firms Apax and LBO France, sources familiar with the deal said.
The deal is the latest sign of a spurt of activity in
France's long-quiet LBO market. Final offers for the company,
valued at up to 700 million euros ($907.69 million) including
debt, are due in early June.
At least two other private-equity auctions could also come
to a close in June, including that for cosmetics retailer
Nocibe, and caterer Elior, the latter valued at up to 4 billion
euros, some of the same sources said.
Private equity firms LBO France and Apax Partners each own
35 percent of Maisons du Monde, with the rest owned by Xavier
Marie, the chain's founder and CEO, and other managers.
Apax, Bain, LBO France and AXA Private Equity all declined
AXA Private Equity, recently spun off from insurer AXA
, has been involved with several other recent deals,
both as a potential buyer and seller, including the buyout of
resorts operator Club Mediterranee announced earlier
Maisons du Monde's revenue rose 17 percent last year to 495
million, although only 6 percent was from same store sales
growth. The chain, which has outlets in France, Spain, Italy and
Belgium, opened 18 stores last year and plans to open another 20
this year, according to Apax's annual report.
Earnings before interest, taxes, depreciation and
amortisation (EBITDA) grew at a faster pace than revenue, Apax
said, without providing precise figures. A source said its
EBITDA was between 75 and 80 million euros in 2012.
Investment banks Lazard and Messier Maris were mandated to
sell the chain in February.