Keravalon is a private investment firm specializing in the acquisition & operation of underperforming businesses divested from large corporations

“We are a strategic investor and focus on creating value for all stakeholders.

After experimenting with different models, I have concluded that turning around businesses requires a unique working method: the investor is also actively involved in the turnaround phase; the M&A and the Operations are conducted by the same people on the investor’s side.

I believe we can make a meaningful difference to society: rejuvenating orphan companies preserves employment and allows unique services and products to exist.”

Thomas is a French entrepreneur with thirty years of experience in acquiring, turning around and growing companies. Thomas graduated from ESSEC in 1992 and obtained in 1998 an MBA from Harvard Business School.

Our four basic principles

Responsible solutions for world-class sellers

We meet the needs of corporations who want to divest non-core, under-performing businesses that no longer fit the group’s strategy but go the extra mile to promote a viable industrial plan.

One team from acquisition through to turnaround

At the heart of our success lies the continuity between our investment, transaction and operations teams. This unity creates the deep knowledge of the target company and enables the swift, decisive, decision-making that is critical to turnaround.

Entrepreneurial turnaround of operations

We revitalize businesses through operational improvements and growth initiatives, combining a back to basics approach with innovation, bringing new energy, discipline and vision.

We acquire businesses globally but operate locally

We acquire businesses in Continental Europe or in the Americas from sellers located anywhere in the world but we will always operate them locally. We empower local management while performing the turnaround ourselves.

Our previous acquisitions

8 May 2018

Tire mold manufacturer

Herstal, Belgium

 

Purchased in May 2018 from Bridgestone, worldwide leader of tire production, Mecamold is a Belgium based plant specialized in the manufacturing of aluminum mold for passenger car tyres. Before its acquisition by Keravalon, the company had been accumulating heavy losses for…

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12 March 2015

End of line automation solutions provider

Burgos, Spain & Pune, India

 

Founded in 1965, Sinterpack is one of the top 3 Spanish integrators in the end-of-the-line equipment. The 2008 crisis compounded with the saturation of its core market, the milk industry, creating a situation of decreasing sales and a bloated cost structure. About to be closed,…

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21 January 2014

Design ceramic manufacturer

Teramo, Italy

 

Hatria is a design sanitary ware manufacturer with sales of €15m of which 50% outside of Italy. The parent company, Mohawk, had invested €40m in a brand new high tech plant but failed to making it run (35% scrap vs. 10% for best practice plants) and got caught in the downturn…

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1 December 2011

Education material editor and distributor

Amiens, France

 

Bourrelier Éducation, specialized in the edition and distribution of educational products for kindergarden and elementary schools in France, was purchased from Hachette (Lagardère) in December 2011. Following its acquisition, Thomas Kermorgant assumed the role of… 

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21 November 2007

Cooperative multichannel furniture and decoration

Niort, France

 

Camif Particuliers was a €370m cooperative multichannel retailer of furniture and home decoration products with €17m of negative EBITDA and employing 750 FTEs. After its acquisition, an aggressive turnaround plan was put into place to guarantee the sustainability…

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10 January 2000

Global precious metal trader 

Sophia Antipolis, France & Delhi, India

 


Thomas Kermorgant co-founded Harmony Precious Metal Services with the South-African company Harmony Gold Mining. It was established after the purchase of Pechiney’s world trade precious metal physical trader. The business was trading US$6bn, of which US$1bn of physical…

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The way we think

1 . Redefining Entrepreneurship

In the wave of tech startups trying to capture market share by slashing prices and playing the “winner takes all” game, we seem to have forgotten the true essence of entrepreneurship. Today, a venture that is non-tech or that is not “revolutionary” is not considered entrepreneurial. However, entrepreneurship … Read more

2 . Fix it or Ditch it?

Upon being asked how they managed to stay together for 65 years, the couple replied “We were born in a time when if something was broken, we would fix it, not throw it away”. Danielle George, Professor of Radio Frequency Engineering, at the University of Manchester, claims that the world today expects everything to ‘just work’ … Read more

3 . The Missing Link

Once one has concluded that the business needs to be fixed and not ditched, what next? One must have a clear plan to avoid coming across as an all talk and no trousers. Thus, to pave the path forward, here is a 3-phase plan to turnarounds… Read more

4 . Soft Turnaround vs. Hard Turnaround

Imagine you’re the captain of a cruise liner that is in the middle of the ocean and you’re far from home. There are risks you need to manage, but you should make it to the shore. Now imagine being in the same waters but inside a canoe. Every decision you take will be detrimental to your ultimate survival. That basically is the difference between a soft turnaround and a hard turnaround… Read more

5 . How to find the right partner ?

A fact that can never be iterated enough – Turnarounds are a unique situation, thus demand a unique skillset. A good turnaround entrepreneur possesses not only immense experience and domain knowledge but also the ability to adapt and react swiftly when faced with unique situations. Hence, turnaround entrepreneurs are a rare commodity… Read more

 

Contact us

Thomas Kermorgant

President and Founder

tkermorgant@keravalon.eu