Agilitas backs buyout of TenCate Advanced Armour

Agilitas

Agilitas, the pan-European mid-market private equity firm, today announces the signing of an agreement to back the buyout of TenCate Advanced Armour Holding B.V. and its subsidiaries (together the “Company” or “TenCate Advanced Armour”), the global leading manufacturer of lightweight survivability solutions, from Royal Ten Cate.

TenCate Advanced Armour is a global provider of lightweight, mission-critical survivability and protection solutions for people working in hostile environments. Its portfolio of bespoke, highly engineered defensive products covers personal protection, as well as applications for land vehicles, aircraft, and naval vessels. Uniquely positioned as one of only two transatlantic and independent providers globally in the highly regulated survivability solutions industry, TenCate Advanced Armour is a key strategic partner to the world’s leading Original Equipment Manufacturers (OEMs), militaries and law enforcement agencies around the world.

The Company has 300 employees and is one of the only vertically integrated armour solutions providers with the ability to develop, test and manufacture armour products in-house. It does so through its facilities in Denmark, France and the US, which also hold individual certifications and national security clearances that allow TenCate Advanced Armour to supply survivability systems to governments and OEMs.

TenCate Advanced Armour serves society by providing high-quality protection to those who risk their lives in hostile environments. The buyout of the Company is the latest example of Agilitas’s strategy of backing ambitious management teams in high-quality and defensive businesses, with opportunities for multi-dimensional business transformation and a strong alignment between shareholder value and fundamental positive purpose.

Kevin Iermiin, of Agilitas, who will be joining the Board of TenCate Advanced Armour Holding BV, commented: “It has been a pleasure to work with management on identifying multi-dimensional transformational opportunities for TenCate Advanced Armour. We are excited to support their vision to become the leading OEM-independent manufacturer of lightweight survivability solutions across all platforms.”

Steen Tanderup, CEO at TenCate Advanced Armour, commented: “We are very proud of what we have achieved with TenCate Advanced Armour’s growth to date. Since the public-to-private of the TenCate group in 2016 we have invested significantly in our factories, our people and in R&D and have built a very strong business with the highest quality products and service for our customers. We look forward to partnering with Agilitas to continue to provide service of the highest quality and integrity to our customers and further accelerate our growth path.”

Martin Calderbank, Managing Partner at Agilitas, said: “TenCate Advanced Armour operates where the quality of protection is of the utmost importance. By supporting management to bring about step changes in the Company’s performance and continuing its global growth, we will help it provide even better protection for people working in hostile environments around the world.”

The closing of the transaction is subject to regulatory approvals.

 


Media enquiries to: Greenbrook – Alex Jones, James Madsen and Catriona Crellin

 

+44 20 7952 2000 | agilitas@greenbrookpr.com

Categories: News

Tags:

Leadec strengthens its position with AVI GmbH

Triton

Leadec strengthens its position with AVI GmbH

05.11.2020

Stuttgart/Hoyerswerda (Germany), 5 November 2020 – Leadec, a Triton Fund IV portfolio company and one of the leading technical service providers for the manufacturing industries worldwide, acquired AVI GmbH with key activities in automation and industrial IT, effective 1 November 2020.

With this acquisition, Leadec further expands its Automation & Engineering Division to offer its customers solutions for controlling and integrating production processes from a single source and to accompany them on their way to Industry 4.0.

“Making the factory of today ready for the production of tomorrow: digitized, networked and efficient – this is the challenge many manufacturing companies are facing. At the same time, the data volume of modern industrial facilities is growing continuously because of the Internet of Things (IoT) and companies require smart solutions to utilize this data. With AVI GmbH, we therefore strengthen our position in a sector that is very important for the future,” says Dr. Achim Agostini, Executive President of the Automation & Engineering Division at Leadec.

“We at AVI have focused on “automation full of ideas” for over 25 years, we are rooted in the region and work worldwide. Both our services and our corporate culture are an excellent fit for Leadec. As part of a global group, we can use our shared expertise to better support our customers in digitizing their production processes and making them efficient,” Mirko Wittek and Frank Seifert, Managing Directors of AVI, agree.

“Leadec offers its customers an integral digitization concept throughout the entire factory life cycle. By acquiring AVI GmbH, we are consistently pursuing our growth strategy in the Automation & Engineering Division and expanding our Industry 4.0 expertise,” adds Markus Glaser-Gallion, CEO of the Leadec Group.

AVI GmbH specializes in planning individual control and automation solutions. The company has in-depth know-how in instrumentation and control, automation as well as production IT. Since 1992 operators of complex industrial facilities or infrastructure supply systems have relied on the competence of the more than 50 employees. In addition, AVI provides machine and plant manufacturers with turnkey solutions that match the technical challenge.

With the TERANiS, [LuQ2] and [LuQ2] machine tools developed by AVI, automated manufacturing processes can be planned, controlled, visualized and monitored. They perfectly complement the solutions developed by Leadec Automation & Engineering such as jitCATS for production control. Other focus areas are process planning, simulations and project management as well as production optimization services.

About Leadec

Leadec is the leading provider of technical services for the automotive and manufacturing industries. The company, which is headquartered in Stuttgart, employs about 20,000 people worldwide. In 2019 Leadec earned sales of around EUR 900 million. For almost 60 years, Leadec has been supporting its customers along the entire production supply chain. The service provider is based at more than 300 sites, often directly at the customers’ plants and facilities.

Leadec’s global services comprise: Engineer (Production Planning & Optimization, Automation and Production IT), Install (Electrical Installation, Mechanical Installation and Relocation), Maintain (Production Equipment Maintenance and Technical Cleaning), Support (Technical Facility Management, Infrastructural Facility Management and Logistics) as well as other local services. The services are provided either in projects or permanently on site at the customer’s premises.

For more information: www.leadec-services.com

About Triton

Since its establishment in 1997, Triton has sponsored nine funds, focusing on businesses in the industrial, business services, consumer and health sectors. The Triton funds invest in and support the positive development of medium-sized businesses headquartered in Europe.

Triton seeks to contribute to the building of better businesses for the longer term. Triton and its executives wish to be agents of positive change towards sustainable operational improvements and growth.

The 45 companies currently in Triton’s portfolio have combined sales of around €18,2 billion and around 100,800 employees.

For further information: www.triton-partners.com

Press Contacts

Triton
Anja Schlenstedt
Leadec
Dr. Marion Hebach

Categories: News

Tags:

Francks Kylindustri acquires Mats Servicepartner

No Comments

Segula

2 November, 2020

Francks strengthens its position in Katrineholm, Sweden, and the surrounding area through the acquisition of Mats Servicepartner AB. The current owner Mats Gustavsson will remain in the business and the new office in Katrineholm will have a total of 8 employees together with Francks’ existing personnel.

”We are very pleased that Mats has chosen to join Francks and strengthen our position in the market. The acquisition of Mats Servicepartner is in line with our strategy to ex-pand geographically and broaden our customer base. We look forward to continue developing the business together with Mats”, says Magnus Lekander, CEO of Francks Kylindustri Norrköping.

“It has been 12 exciting years that I have followed my customers through thick and thin. I look forward to becoming a part of Francks and continue the strong growth that we have experienced since the inception in 2008. As part of Francks, we have further opportunities to grow and broaden our expertise, and I hope that we together can strengthen the market for industrial refrigeration services in the Sörmland region”, says Mats Gustavsson, Mats Servicepartner.

For further information, please visit www.franckskylindustri.se or contact:

Marcus Planting-Bergloo, Managing Partner, Segulah Advisor AB +46 70 229 11 85, planting@segulah.se
Magnus Lekander, Francks Kylindustri i Norrköping AB +46 70 383 09 70, magnus.lekander@franckskylindustri.se

Categories: News

Tags:

Latour acquires SLT Schanze Lufttechnik

Latour logo

2020-11-02 13:30

Investment AB Latour has, through its wholly-owned subsidiary Swegon Group AB, acquired SLT Schanze Lufttechnik (SLT), a supplier of diffusers in Germany with the engineering capability to provide complex and customized solutions for its customers. The company was founded in 1985 and has 70 employees with head office and manufacturing located in Lingen, Germany. Net sales in 2019 amounted to EUR 10 m.

The acquisition strengthens Swegon’s portfolio within Room Unit products and increases Swegon’s position as one of the leading companies for indoor environment solutions.

“We are very happy to welcome SLT into the Swegon Group. SLT has an ability to think outside the box and provides top quality customized solutions with a focus on high indoor environmental quality. This acquisition gives Swegon a renowned and highly competent room units supplier in the largest ventilation market in Europe”, says Andreas Örje Wellstam, CEO at Swegon Group.

“SLT started out as a distributor of diffusers in Germany 35 years ago. At that time, we sold Swegon products. Since then, we have grown and developed our own product portfolio and manufacturing. Becoming a part of Swegon is like going back to our roots and I am confident that our customers will experience a very attractive combined offering”, says Joachim Schanze, founder of SLT.

Göteborg, 2 November, 2020

INVESTMENT AB LATOUR (PUBL)
Johan Hjertonsson, CEO

For further information, please contact:
Andreas Örje Wellstam, CEO Swegon, +46 31 89 58 00
Matthew Goodrick, Corporate Development Swegon, +46 31 89 58 00

Swegon Group is a market leader in energy efficient ventilation and indoor climate products and systems. Swegon has subsidiaries in 16 markets, distributors all over the world and 16 production plants in Europe, North America and India. The company employs more than 2,600 people with an annual turnover exceeding SEK 6 billion.

Investment AB Latour is a mixed investment company consisting primarily of a wholly-owned industrial operations and an investment portfolio of listing holdings in which Latour is the principal owner or one of the principal owners. The investment portfolio consists of nine substantial holdings with a market value of about SEK 68 billion. The wholly-owned industrial operations has an annual turnover of SEK 15 billion.

Downloads

Categories: News

Tags:

airteam wins ventilation contract in connection with the construction of the Multibrugerhuset with associated towers outside Copenhagen

Ratos

airteam has won a major ventilation contract for the construction of the so called Multibrugerhuset with associated towers at Posthusgrunden (a former post office building) in Værløse just outside of Copenhagen.

The project to construct the Multibrugerhuset building and the towers includes the construction of office buildings, residential units, hotel apartments, retail units and a health centre in the town of Værløse on the outskirts of Copenhagen. The total project encompasses an area of approximately 92,000 square metres. airteam’s contract includes the delivery and installation of many large-scale, central ventilation systems.

“The complexity of the project demands extensive professional expertise in which we focus on sustainable solutions, low energy consumption and a healthy indoor climate. We appreciate the trust we have received and we look forward to helping to shape a new district in the heart of Copenhagen in close collaboration with the customer,” says Poul Pihlmann, CEO of airteam.

“The award of this project highlights once again airteam’s strong position in the Danish market. The high level of quality and customer satisfaction that airteam has demonstrated in its projects has resulted in the company taking part in tenders for the largest ventilation contracts in Denmark, which is highly gratifying,” says Christian Johansson Gebauer, Board Chairman of airteam and Head of Business Area Construction & Services at Ratos.

The project will be completed in 2024.

For further information, please contact:
Christian Johansson Gebauer, Head of Business Area Construction & Services, Ratos, +46 8 700 17 00
Helene Gustafsson, Head of IR and Press, Ratos, +46 70 868 40 50, helene.gustafsson@ratos.com

 

About airteam:
airteam offers high-quality, effective ventilation solutions in Denmark and Sweden. With the most talented employees in the industry, airteam develops advanced systems for a wide range of industries and is solely focused on ventilation, unlike certain competitors. The company focuses on project development, project management and procurement where the projects, to a large extent, are carried out by a broad network of quality-assured subcontractors. Furthermore, airteam offers maintenance and service of its installed ventilation solutions.

About Ratos:
Ratos is a business group consisting of 12 companies divided into three business areas: Construction & Services, Consumer & Technology and Industry. In total, the companies have SEK 38 billion in sales and EBITA of SEK 1.8 billion. Our business concept is to develop mid-sized companies headquartered in the Nordics that are or can become market leaders. We enable independent mid-sized companies to excel by being part of something larger. People, leadership, culture and values are key focus areas for Ratos. Everything we do is based on Ratos’s core values: Simplicity, Speed in Execution and It’s All About People.

Categories: News

Tags:

Career Air Force Supply Chain and Logistics Leader Col (ret) Kieran Keelty Joins Triman Industries to Head Partner Supply Chain Operations

Ae Industrial Partners

FOR IMMEDIATE RELEASE

Career Air Force Supply Chain and Logistics Leader Col (ret) Kieran Keelty Joins Triman Industries to Head Partner Supply Chain Operations

WEST BERLIN, N.J., October 26, 2020 – Triman Industries, Inc. (“Triman” or the “Company”), a leading provider of distribution, supply chain and repair management solutions to the military aftermarket, announced today that Kieran Keelty has joined the Company as Vice President, Partner Supply Chain Operation. The appointment is effective immediately. Triman is a portfolio company of AE Industrial Partners, LP (“AEI”), a private equity firm specializing in Aerospace, Defense & Government Services, Power Generation and Specialty Industrial markets.

“Triman is continuing on its strong growth trajectory with an ever-increasing focus on providing world-class aftermarket services to our OEM partners and customers,” said Scott Truskin, CEO of Triman. “Kieran has a unique and diverse set of skills and relationships that will be a great fit within the Company. He will report directly to our president, Dan Edwards, and play a key role in developing and executing our strategic growth plan.”

“Triman is a pure play military distribution partner with an outstanding reputation in the industry. I’m truly excited to join a company that has been built upon a solid foundation of relentless support of the mission and warfighter while pursuing a value proposition grounded in the growth of their OEM partners and suppliers,” said Mr. Keelty. “I am anxious to bring my supply chain and logistics experience to what is already a very strong team at Triman.”

“Kieran brings a pedigree of military supply chain and DLA experience to Triman,” said Dan Edwards, President of Triman Industries. “He is truly a passionate leader and supply chain expert who will drive significant value for our partner base further enhancing our mission to be a high-touch, full-service military aftermarket supply chain innovator. We are confident he will deepen our partner relationships and identify new growth opportunities.”

In this newly created supply chain executive role, Mr. Keelty will be responsible for leading the development and execution of a comprehensive program to optimize the supply chain for Triman’s partners and suppliers. He will also be pursuing new business within DoD programs and OEMs through relationship development, innovative problem solving, gap analysis and identification of opportunities that are aligned with Triman’s unique value proposition.

Col (ret) Keelty brings over 25 years of active duty US Air Force experience to Triman. He was most recently the Commander of the 748th Supply Chain Management Group at Hill AFB, Utah where he led 925 personnel in managing a $1.2 billion annual supply chain budget sustaining 34 weapons systems. He also held key leadership positions at Air Mobility Command where he was the Chief of the Logistics Readiness division as well as the Deputy Commander of the Air Force’s largest Mission Support Group at Kadena Air Base, Japan, supervising 4,200 personnel. He has an MS in Supply Chain Management from the Air Force Institute of Technology, an MA in National Security and Strategic Studies from the US Naval War College and a BA in political Science from the University of North Carolina.

About Triman Industries
Triman is a leading provider of distribution, supply chain and repair management solutions to the military aftermarket. Founded in 1995 and based in West Berlin, NJ, Triman has mastered the business of partnering with OEM suppliers and their military customers to form the critical link between the product and the end-user in the supply chain. Today, Triman represents a growing list of over 50 OEMs and provides a full suite of value-added services including inspection and testing, packaging, labeling, marking, processing, export management, contract administration and repair management services. The Company’s proven track record, reputation for quality and responsiveness, and deep list of certifications and accreditations have allowed it to establish a leading market position and valuable partnerships in its marketplace. For more information, please visit www.trimanindustries.com.

About AE Industrial Partners
AE Industrial Partners is a private equity firm specializing in Aerospace, Defense & Government Services, Power Generation, and Specialty Industrial markets. AE Industrial Partners invests in market-leading companies that can benefit from its deep industry knowledge, operating experience, and relationships throughout its target markets. Learn more at www.aeroequity.com.

# # #

CONTACT:
Lambert & Co.
Jennifer Hurson
(845) 507-0571
jhurson@lambert.com

or

Caroline Luz
203-656-2829
cluz@lambert.com

Categories: News

Tags:

Sustainable Growth: Revolution Completes Acquisition of Polar Plastics

Arsenal Capital Partners

October 22, 2020

Plastic Recycler and Manufacturer Expands Commercial Products Division with Purchase of Minnesota-based Company

Little Rock, AR – October 23, 2020 – Revolution, a leading manufacturer of sustainable plastic solutions, today announced that it has acquired Polar Plastics Corporation (“Polar Plastics”) from Spell Capital Partners in order to expand its production footprint and further penetrate the packaging, agriculture and retail sectors with environmentally friendly products.

Polar Plastics has been serving the construction, agriculture, packaging, logistics, home improvement, and retail markets with high-quality polyethylene products since 1967. The company is based out of St. Paul, Minnesota where it operates a 100,000-square-foot production facility making products such as stretch film, sheeting, and custom rolls and bags.

Headquartered in Little Rock, Arkansas, Revolution is driven by a single mission: to create sustainable plastic solutions that help preserve the environment for future generations.  Through its innovative closed-loop system, Revolution markets a wide array of green plastic solutions for the agriculture, construction, foodservice and retail sectors, which it then recovers, cleans and processes into post-consumer recycled (PCR) resin used to make new products such as trash can liners, carryout bags and construction films.  Revolution was acquired by Arsenal Capital Partners in July 2019.

“The team at Polar Plastics has created a terrific business with deep customer relationships and a reputation for quality products and exceptional service.  Their commitment to their customers and their culture of excellence and collaboration are a great fit with our priorities and mission,” said Sean Whiteley, Revolution’s CEO. “We feel very fortunate that we can add the great people at Polar Plastics to the Revolution family and look forward to learning from them and helping to contribute to their future success.  We are confident this combination will strengthen our ability to serve new end markets and geographies with unique closed-loop collections, recycling and PCR-rich manufacturing solutions.”

“We have enjoyed the role Spell has played as a part of the Polar ownership history as it has successfully transitioned from a family owned business over the last several years,” said William Spell, President of Spell Capital.  “We also appreciate the opportunity we’ve had to work with the Polar management team and are excited about the Company’s future as it joins the Revolution organization”.

About Revolution

Headquartered in Little Rock, Arkansas, Revolution Believes in Better Plastics that help preserve our environment for future generations. Spanning nearly every industry, the company’s family of brands deliver sustainable, high-quality plastic products to both consumers and companies alike. Its brands include Delta Plastics, Revolution Bag, Revolution Ag, Rodeo Plastics and Command. The focus in all areas is to create sustainable circular solutions and use as much post-consumer resin as possible in all products manufactured.  For more information, visit www.revolutioncompany.com.

About Polar Plastics

Polar Plastics is headquartered in St. Paul, Minnesota and manufactures plastic film and low-density polyethylene packaging products used to make plastic films and bags for packaging, logistics, home improvement, retail, and other applications. Polar has a been a trusted supplier of quality stock and custom products with attentive service to diverse, long-standing customers since 1967. For more information, visit www.polar-plastics.com/.

About Spell Capital Partners

Spell Capital Partners is an established manager of private equity and mezzanine capital based in Minneapolis, Minnesota. Founded in 1988, Spell Capital has over 30 years of successful industry experience. Currently, the firm manages over $1.0 billion of capital (AUM), has 95 active investments, and have finished investing our fifth private equity buyout fund, Spell Capital Partners Fund V, and are now investing Spell Family Office capital in new control equity deals. Additionally, we are investing our second mezzanine fund, Spell Capital Mezzanine Partners II. For more information, please visit www.spellcapital.com

About Arsenal Capital Partners

Arsenal is a leading private equity firm that specializes in investments in middle‐market specialty industrials and healthcare companies. Since its inception in 2000, Arsenal has raised institutional equity investment funds of $5.3 billion, completed more than 45 platform investments and achieved more than 30 realizations. Arsenal invests in industry sectors in which the firm has significant prior knowledge and experience. The firm works with management teams to build strategically important companies with leading market positions, high growth, and high value‐add.  For more information, please visit www.arsenalcapital.com.

Categories: News

Tags:

Polytek Development Corp. Announces Acquisition of Incredible Solutions

Arsenal Capital Partners

October 20, 2020

EASTON, Pa. and CRYSTAL RIVER, Fla., Oct. 20, 2020 — Polytek Development Corp. (“Polytek”), a manufacturer of specialty polymers for mold making, casting, and coating applications, announced today the acquisition of Incredible Solutions. Polytek is a portfolio company of Arsenal Capital Partners.

Founded in 2017 and located in Crystal River, Florida, Incredible Solutions supplies epoxy coating and casting systems that are used to coat wood bars and table tops, create decorative surfaces and mixed-media furniture such as river tables, and complete a variety of other works of art and craft.

Incredible Solutions will join Polytek’s consumer brand portfolio and further expand the company’s offering of coating and casting solutions that are formulated specifically for do-it-yourself and artistic communities. These brands offer user-friendly products and accessories that are available direct-to-consumer via a variety of convenient channels, including company-operated e-commerce sites, mass retail, and online marketplaces.

Doug Lorenz, CEO of Polytek, commented, “Incredible Solutions has had tremendous success in their first three years of business and we’re very excited to bring them onto the Polytek team and continue to grow with them in the coming years.”

Charlie Ives, owner of Incredible Solutions, added, “We are really looking forward to teaming up and collaborating with Polytek. Ultimately, our goal is to continue to serve our customers to the best of our ability while introducing new product options and creative ways to use them.”

Charlie Ives will remain in an active role within the Incredible Solutions brand, and the two companies will continue to do business under their existing names.

Genesis Capital, LLC acted as the financial advisor to Polytek.

About Polytek® Development Corp.
Founded in 1984, Polytek® Development Corp. is headquartered in Easton, PA with operations in Pomona, CA, Galesburg, MI, Franklin, IN, and Grants Pass, OR. Polytek is a leading manufacturer of specialty polymers including polyurethane elastomers and casting resins, silicone, epoxies, latex, thermoplastic elastomers, and board materials. These systems are used primarily in mold making, casting, and coating applications in industrial and consumer sectors, including construction and restoration, arts and crafts, DIY, product design and manufacturing, entertainment, and education. Polytek® brands include Raw Material Suppliers, Alumilite, BCC Products, Environmental Technology, Inc., Pro Marine Supplies, and Stone Coat Countertops. corporation.polytek.com

About Incredible Solutions
Located in Crystal River, FL, and founded by a husband and wife duo in 2017, Incredible Solutions was established to service a rapidly growing do-it-yourself epoxy market. The company quickly grew into a top seller on e-commerce platforms while maintaining the customer service hallmarks of a small, family-run business. Today, Incredible Solutions continues to provide user-friendly epoxy coating and casting solutions to do-it-yourselfers, artists, and craftsmen. www.incrediblesolutionsonline.com

About Arsenal Capital Partners
Arsenal is a leading private equity firm that specializes in investments in middle-market specialty industrial and healthcare companies. Since its inception in 2000, Arsenal has raised institutional equity investment funds of $5.3 billion, completed 45 platform investments and achieved 30 realizations. Arsenal invests in industry sectors in which the firm has significant prior knowledge and experience.  The firm works with management teams to build strategically important companies with leading market positions, high growth, and high value-add.  www.arsenalcapital.com

Categories: News

Tags:

Equistone to sell ROTH GRUPPE to Patrimonium

Equistone

Funds advised by Equistone Partners Europe (“Equistone”) have agreed the sale of their majority stake in ROTH GRUPPE AG, a leading Swiss provider of structural fire protection, technical insulation and coating solutions, to a fund advised by Patrimonium Private Equity Advisors AG (“Patrimonium”). The financial terms of the transaction are undisclosed.

Founded in 2001 and with 450 employees today, ROTH GRUPPE, based in Gerlafingen, Switzerland, is a leading regional specialist provider of passive fire protection and insulation solutions, as well as related services for the construction sector. Its portfolio includes consulting, planning, installation and long-term maintenance services for major infrastructure projects as well as public and private buildings. ROTH’s customers comprise an established and extensive network of general and construction contractors, installers, architects and companies specialising in construction and building services engineering, as well as industrial and retail companies.

Equistone acquired a majority share in ROTH GRUPPE in September 2016 and has driven the organic and strategic growth of the Swiss technology leader in recent years through a total of three add-on acquisitions. With the acquisition by Patrimonium, the aim is to leverage new market synergies and create long-term growth opportunities. The operational structure of the company will remain unchanged.

Dirk Schekerka, David Zahnd and Roman E. Hegglin led the transaction on behalf of Equistone. Equistone was advised by ZETRA International (M&A) and Baker McKenzie (Legal).

PR Contacts

GERMANY & SWITZERLAND

Munich & Zurich

  • IWK Communication Partner
  • Ira Wülfing / Florian Bergmann
  • Tel: +49 (0)89 2000 30 30
  • E-Mail IWK

Categories: News

Tags:

Ardian announces the acquisition, through a preemptive approach, of Syclef, a French leader in professional refrigeration

Ardian

  • 08 October 2020 Expansion Paris, France
  • Paris, October 8th, 2020 – Ardian, a world leading private investment house, today announces the acquisition of a majority stake, alongside the management team, in Syclef, from Latour Capital.

Founded in 2003 near Aix-en-Provence, Syclef is a leading French company specializing in the installation and maintenance of industrial and commercial refrigeration systems. Today, Syclef employs a workforce of nearly 800 people, following both significant organic and external growth in recent years. Since 2015, Syclef has accelerated its buy-and-build strategy with the acquisition of 15 companies. Together with Ardian, the group intends to continue this ambitious consolidation process in a market still very fragmented.

Syclef’s customer base, which is primarily composed of large and medium-size food retailers as well as companies in the food & beverage industry, relies on Syclef to manage its complex and critical refrigeration systems. The group has a direct sales approach which enables it to customize its offer and provide a bespoke service to its customers. Syclef operates a decentralized organization structure with a network of 30 independent companies throughout the country.

The group’s commercial strategy is supported by a focus on environmentally friendly innovation such as natural refrigeration fluids. This is part of its overall objective of reducing its customers’ energy consumption and environmental impact.

Marie Arnaud Battandier, Managing Director within the Ardian Expansion team, said: “Syclef’s management team has done a stellar job to put it in leadership position in the French market. In the coming years, we want to further catalyze the company’s growth by taking advantage of its expert positioning, its local strategy and its approach towards environmentally friendly innovation in this growing market.”

Hervé Lohéac, Chairman of Syclef, added: “We are very proud of the progress we have made with Latour Capital, which has allowed us to structure our external growth strategy over the last five years. Now, we are pleased to continue our journey with Ardian at our side, forming a partnership that will provide us with the right tools to further grow and develop both organically and externally. Our decentralized organization model and employee ownership are both key factors of our success, thanks to the involvement of our colleagues. This dynamism, combined with our ambitious training policy ensure our reactivity, our high maintenance standards and our ability to deliver high quality services to our clients.”

Philippe Leoni and Maxime Gutton, Partners at Latour Capital concluded: “We want to express our heartfelt thanks to the Syclef team. We are thrilled to have supported the strong development and transformation of the group with, among others, the introduction of a new senior management team and the structuration of support functions. This new organization allowed the group to triple its size in five years thanks to the acceleration of organic growth and the implementation of an active external growth strategy, with 15 acquisitions.”

 

ABOUT SYCLEF GROUP

Founded in 2003, Syclef is a French leader in the installation and maintenance of refrigeration systems. The group is specialized in medium and large refrigeration installations, in industrial refrigeration (logistics platforms, storage warehouses, food processing…), commercial refrigeration (supermarkets, convenience stores…) and air conditioning. The group benefits from a key player position in the energy transition through the use of innovative “eco-responsible” technologies such as natural refrigerant fluids.

 

ABOUT ARDIAN

Ardian is one of the world’s leading private equity firms with $100 billion under management and/or advisory in Europe, America and Asia. The company, which is majority owned by its employees, has always placed entrepreneurship at the heart of its approach and offers its international investors top-tier performance.
Through its commitment to sharing the value created with all stakeholders, Ardian participates in the growth of companies and economies around the world.
Based on its values of excellence, loyalty and entrepreneurship, Ardian benefits from an international network of 700 employees in 15 offices in Europe (Frankfurt, Jersey, London, Luxembourg, Madrid, Milan, Paris and Zurich), North America (New York, San Francisco), South America (Santiago) and Asia (Beijing, Singapore, Tokyo and Seoul). The company manages the funds of 1,000 clients through its five investment pillars: Funds of Funds, Direct Funds, Infrastructure, Real Estate and Private Debt.

 

ABOUT LATOUR CAPITAL

Latour Capital is a French independent management company with a strong entrepreneurial and operational culture. With €1.5 billion under management and 20 investment professionals, the company is an active investor, involved alongside the management teams of its portfolio companies. The firm invests primarily in companies displaying a strong growth potential in France and abroad.

LIST OF PARTICIPANTS

  • ARDIAN

    • Marie Arnaud-Battandier, Arthur de Salins, Romain Gautron, Thomas Grétéré
    • Legal and financing advisor: Latham & Watkins (Olivier du Mottay, Michel Houdayer, Simon Lange, Yiran Bai, Aurélie Buchinet)
    • Financial Due Diligence: KPMG (Olivier Boumendil, Benjamin Patte, Nathan Lemaire)
    • Commercial Due Diligence: Indéfi (Julien Berger, Maxence Lavolle, Gabriel Rotily, Nicolas Hamann)
    • Legal, fiscal and social Due Diligence: KPMG (Xavier Houard, Florence Olivier, Albane Eglinger)
    • ESG Due Diligence: Indéfi (Emmanuel Parmentier, Joanna Tirbakh, Renaud Muller)
    • Insurance Due Diligence: Satec (Pierre Le Morzadec, Stéphane Arseau)
  • LATOUR CAPITAL

    • Philippe Leoni, Maxime Gutton, Gaspard Lacoeuilhe, Camille Defaye
    • Legal advisor to seller: Willkie Farr & Gallagher (Christophe Garaud, Gil Kiener)
    • Legal advisor to management: Delaby & Dorison (Emmanuel Delaby, Romain Hantz, Alexandre Tardif), GCA (Alexandre Gaudin, Thomas Brillet)

PRESS CONTACTS

ARDIAN – Headland

Gregor Riemann

griemann@headlandconsultancy.com +44 (0)7920 802 627

Categories: News

Tags: