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AltAssets is the private equity news and research service from Almeida Capital
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PRINT THIS PAGE Industri Kapital acquires Groupe Etanco08/02/2008. Source: AltAssets. 
European private equity firm Industri Kapital has signed a share purchase agreement to acquire French building fastener and fixing systems company Groupe Etanco from the Lebraut family in partnership with CEO Ronan Lebraut and members of the founding family and management. The size of the transaction was not disclosed, but has been reported to be worth around €250m, according to a source close to the deal. Groupe Etanco employs 600 people in six sites and generates a turnover of €130m, according to a statement.
Christopher Masek, partner at IK, said, 'We are very pleased to have reached this agreement with the Lebraut family. Our objective is to actively support existing management led by Ronan Lebraut, in its growth strategy which is based on the extension of its product offering and the reinforcing of its market positions across Europe.'
Ronan Lebraut added, 'The amount accomplished by the group over the past few years makes us confident that we can continue to grow and develop in the future, both in France and abroad. We chose IK to accompany us in the implementation of our dynamic growth strategy due to their track record in developing businesses internationally.'
Industri Kapital closed its most recent fund, Industri Kapital 2007 Fund, in 2007, on €1.7bn. Current investments in France include Cerba European Lab, SIA and Idex.
Copyright © 2008 AltAssets
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