Business transfers

May 2020

Adaxtra Capital and Ouest Croissance acquire a stake in Satellite alongside Paul-Henri Duillet, the new CEO. The two founders, Daniel Ouaki and Sandrine Dulon will continue to participate in the Group's strategy as shareholders. This transaction will allow the Group to consolidate its position on the French market, to perpetuate its presence in Italy, and to continue its deployment in China.

Customers and counterparties

Satellite, founded in 1987, is today the market leader in high-end ethnic jewelry. The capital was reorganized when Paul-Henri Duillet arrived and the desire to involve the executives of the Group. This transition will ensure the sustainability of the activity and its international deployment.

Today omnichannel, the brand has diversified its distribution channels and has around fifteen branches, in France and Italy, as well as an e-commerce site. Through French and foreign resellers, the Group is present in more than 300 stores and generates nearly 30% of its turnover from exports. He also knew how to build a strong strategic partnership with a Chinese distributor.

Supported by export and store openings abroad, Satellite has recorded regular growth of 10% per year since 2015, reaching sales close to € 9 million in 2019.

Paul-Henri Duillet, the new Managing Director of Satellite, displays his desire to develop the business based on the achievements of the past thirty years. He will also bring all his experience in luxury and distribution networks, acquired in particular within the framework of the exercise of managerial functions within the L’Oréal and Parfums Christian Dior Groups.

"We are proud to enter the capital of a company combining a strong identity and creativity. Our decision was motivated by the quality of the buyer, the ambition of the future project, and the solid achievements of the company" underlines Ludovic Sarrazin, Director of Investments at Adaxtra Capital.
Olivier Philippon, Director of Investments at Ouest Croissance, explains: "The complementarity of the career paths of the historic managers and the new CEO opens, based on the fundamentals of the company, a new stage in its history. The areas of digital and international marketing are fundamental areas of development that particularly appealed to the team at Ouest Croissance, and which are also the preferred areas of Paul-Henri Duillet."

Associate members