Exacompta-Clairefontaine acquires Photoweb, the leading French online photo service.

Clipperton Finance acted as Financial Advisor to Photoweb’s Selling Shareholders

Paris – January, 23rd 2014 – Clipperton Finance, a leading European corporate finance firm focused on the Technology and Media industries, today announced the closing of the sale of Photoweb, the second largest online photo specialist in France, to Exacompta-Clairefontaine, the leading producer of notebooks, paper and stationery. The CEO, Etienne Descure, remains involved operationally and keeps a minority stake in the business.

Founded in 1999, Photoweb is a leading online photo service in France, providing its clients with a highly diversified product suite including photo prints, photobooks and customized objects (mugs, t-shirts, etc.). Since inception, the company has delivered an outstanding track record of continued growth (last 10 year CAGR of ~50%) and margin expansion, demonstrating management ability to adapt, innovate and execute on its strategy. Photoweb’s underlying market is huge and growing, driven by the secular shift to online consumption and the trend towards consumer self-expression and attraction to customized products. The transaction will enable Photoweb to accelerate its development plan in France and abroad, notably benefiting from Exacompta-Clairefontaine’s extensive international network.

Etienne Descure, CEO, Photoweb, said “We believe Exacompta-Clairefontaine is the best possible partner to accompany Photoweb in this next phase of growth. We are very excited by all the opportunities lying ahead, and very confident that Exacompta-Clairefontaine’s support will be instrumental in achieving our ambitious objectives”

Nicolas von Bülow, Partner at Clipperton Finance in charge of managing the transaction commented “It has been a real pleasure working alongside Photoweb’s shareholders on this transaction which has resulted in a highly valuable and complementary partnership between two companies managed by outstanding people. We hope this will help Exacompta-Clairefontaine accelerate its digital transition.”


For more information, please contact:

Clipperton Finance

Nicolas von Bülow, Partner, nvonbulow@clipperton.net

Thomas de Montille, Senior Associate, tdemontille@clipperton.net

Olivier Combaudou, Associate, ocombaudou@clipperton.net


About Clipperton Finance

Clipperton Finance is a European corporate finance boutique exclusively dedicated to the HighTech and Media industries. Clipperton Finance advises high growth companies on financial transactions, fundraisings, capital increases and Mergers & Acquisitions. With a team based in London, Berlin, and Paris and an international reach, Clipperton Finance is a European leader in the sector. The team has successfully structured more than seventy high level international transactions in the European High Tech sector. For more information, visit www.clipperton.net