IK Partners succeeds Naxicap as JRI’s financial partner

July 2023 — Naxicap Partners has sold its minority stake in JRI to IK Partners.

JRI is a leading French specialist in the design and sale of solutions for recording and monitoring main physical quantities in the environment, such as temperature, relative humidity, CO2 and O2 levels, pressure, water and electricity consumption and wind speed, among others. The group designs and distributes wireless monitoring solutions combining physical equipment, software solutions and associated services (mainly metrology services). JRI’s solutions are aimed primarily at professionals in the healthcare and food safety sectors.

IK Partners is one of Europe’s leading private equity firms, having raised approximately US$15 billion from institutional investors since its creation. IK Partners has a pan-European platform of over 100 investment professionals in eight locations (Paris, London, Hamburg, Amsterdam, Stockholm, Copenhagen, Luxembourg and New York). In France, the IK funds have invested more than US$4 billion in equity through more than 40 direct investments in French SMEs and have supported the management teams of these companies in almost 100 external growth operations.

Naxicap Partners is a French private equity firm active in all sectors, in LBO and growth capital transactions. For over 30 years, Naxicap has supported SMEs and SMIs through majority stakes in France, Benelux, Germany and Spain. Naxicap Partners manages US$7.2 billion of assets on behalf of Groupe BPCE (24%) and French and foreign institutional investors (76%).

Our role in the transaction

Oaklins’ team in France acted as the exclusive sell-side financial advisor to support JRI on its third LBO. The team shortlisted several PE funds and identified IK Partners as the best investor to support JRI’s growth project, while also securing the bank financing for the transaction with a pool of four banks.