9/7/2011
NEWS BRIEFS
3i Backs Buyout of Etanco
International investment group 3i agreed to acquire a majority stake in building fastener manufacturer Etanco, based in Paris. Terms were not disclosed.
Under the “buy and build” deal, Etanco CEO Ronan Lebraut will re-invest alongside 3i, retaining a 25% stake in the company.
Etanco has a workforce of 600 to design, manufacture and distribute building fasteners and fixing systems in France. The company also has a strong presence in Belgium, Italy and Eastern Europe through its subsidiary Friulsider. Etanco provides 45,000 products grouped under four categories: waterproofing, roofing, safety and facades.
Etanco was acquired by investor IK in 2008 in partnership with Lebraut, enabling the company to expand its product offering, streamline operations and increasing the sales force.
“3i’s investment in Etanco provides a platform from to accelerate the company’s growth and strengthen its market position, through consolidation of the market as well as developing new product ranges and increasing its customer base,” the group stated.
“3i has extensive experience investing in the industrial sector and its global network will enhance Etanco’s ability to access new geographies.” Web: 3i.com
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“With IK’s positive support, Etanco has grown significantly organically, allowing us to reinforce our leadership position in France and to improve our financial performance,” Lebraut commented.
“We look forward to continuing our successful evolution by taking on a new stage of international development through a buy-and-build strategy for which we believe we are well poised with 3i.” Web: etanco.fr ©2011 GlobalFastenerNews.com
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