DEAL - Fidal Avocats advises on the financing of the sale of Recyclivre

Fidal acted as legal counsel to the lending institutions in connection with the financing of the acquisition of Recyclivre, a leading player in the resale of used books. This transaction accompanies the transfer of the company’s equity and the entry of LT Capital and SWEN Capital Partners as shareholders, alongside management and employees.

Founded in 2008 by David Lorrain, Recyclivre has developed a model combining economic performance, environmental impact, and social commitment, with a mission to give books a second life. As a market leader, the company began preparing for its ownership transition in 2022 to ensure the continuity of its project and support its acceleration. It currently employs nearly 40 people and generated revenue of nearly €20 million in 2025, with annual growth of approximately 30% over the past two fiscal years.

The transaction enables management and more than half of the employees to become shareholders in the acquiring company, while the founder retains a minority stake. It provides Recyclivre with the necessary resources to continue its development, notably by strengthening its collection capabilities, its logistics and technological infrastructure, as well as its ESG roadmap.

The financing, structured to secure the acquisition while supporting the group’s long-term growth, was arranged by Banque Populaire Rives de Paris and Crédit Agricole Mutuel de Paris et d’Île-de-France. Fidal worked alongside the lending institutions to structure, negotiate, and secure the financing.

The transaction was led by Fidal’s Financing team, comprising Marie Trécan, partner, and Océane Michel and Julie Villani, associates, demonstrating the firm’s expertise in advising on financing transactions related to high-impact succession and growth projects.