Raphaël Michel Société Anonyme (ENXTPA:MLRAM) acquired SAS Claude Nicolas from the family in January 2014. Raphaël Michel funded the transaction from a recent fundraising round of approximately €50 million and from fundraising round of €6 million by mbo partenaires. Raphaël Michel partially financed itself from a debt provided by CIC, BNP Paribas, Société Générale, Arkéa Banque Entreprises & Institutionels, and Bank of China. Claude Nicolas reported revenues of €10 million for the year ended December 31, 2013. Jean-Christian Raymond of Oderis Consulting acted as financial advisor for Raphaël Michel Société Anonyme. Laurence Battini acted as legal advisor for Raphaël Michel Société Anonyme.

Raphaël Michel Société Anonyme (ENXTPA:MLRAM) completed the acquisition of SAS Claude Nicolas from the family in January 2014.