Banexi Capital Partenaires has changed it’s name to…drumroll please…Azulis Capital! And just what, you ask, does Azulis mean? Off the top of my head I have no clue. But French firms do tend to pick names that sound oddly similar to prescription medications. Adding to the confusion is that when conducting a simple Google search, one can see that apparently an Azulis Capital is already operating in Brazil, and there’s a Belgian internet marketing firm called Azulis.
The name change coincides with Banexi Capital Partenaires’ management team acquiring 100% of the business six years after it spun-out from BNP Paribas. Banexi Capital Partenaires was established 15 years ago as part of BNP Paribas. It gained independence from the French bank in 2004 when its partners acquired a 51% stake in the business.
Aso, Azulis has backed the acquisition of household products manufacturer Finag group from it’s founder Alain Guiader, alongside the management team. Finag was established in 1990 and has developed in three principal areas of activity: designing and producing bathroom accessories under its Galedo brand; distributing kitchen furniture kits through Bois secs De Bourgogne and Rossignol, two businesses purchased in 1996 and 2006 respectively; and producing and distributing metallic and plastic products aimed at the hygiene sector. The group had a turnover of €50M in 2008.