PRINT THIS PAGE Electra Partners Europe and CVC Capital Partners acquire European CPI for €450m30/08/2005. Source: AltAssets. 
 Electra Partners Europe and CVC Capital Partners have teamed up to acquire European monochrome book manufacturer CPI for €450m. The private equity firms will invest an equal share in CPI, alongside management led by Timothy Bovard, the co-founder of CPI with Cyrille Chevrillon.
CPI currently produces around two million books a day, including recent titles from bestselling authors Dan Brown, Martina Cole and Wilbur Smith.
Monochrome book manufacturing is characterised by shorter print runs and frequent reprints with editors demanding rapid turnarounds. It is therefore an industry where proximity is key to providing customers a high level of service.
Edward Koopman, a partner of Electra Partners Europe, said, 'CPI represents an exceptional investment opportunity given its leading market position, the quality of its management team and its strong development potential.'
Jean-Marc Crépin, director at CVC Capital Partners (France), added, 'Both Electra Partners Europe and CVC benefit from significant experience in the buy-out market and are recognised as leading partners to companies seeking to grow. In addition, both groups have a European network that matches CPI's profile, which should benefit the group as it embarks on the next phase of its external growth strategy.'
Electra Partners Europe has offices in London, Paris and Frankfurt, and specialises in mid market European buy-outs.
CVC Capital Partners specialises in MBOs and MBIs. Founded in 1981, initially as a subsidiary of Citicorp, CVC completed its own MBO in 1993. CVC has a presence in 11 European countries.
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