Equistone enters into exclusive negotiations with IK Investment Partners for the sale of Bretèche Industrie
Equistone Partners Europe (“Equistone”), one of Europe’s leading mid-market private equity investors, today announces that it has entered into exclusive negotiations with the IK VIII Fund (“the Fund”), advised by IK Investment Partners (“IK”), to sell its majority stake in Bretèche Industrie Group (“Bretèche” or “the Group”), a global leading manufacturer of industrial equipment for the production of food, pharmaceutical, and cosmetic products. The management team will reinvest alongside the Fund. Financial terms of the transaction are not disclosed and the completion of the transaction is subject to regulatory approval.
Bretèche consists of six leading companies within their respective markets, designing, engineering, manufacturing, and installing equipment for food, cosmetics, and pharmaceutical production lines. The Group employs nearly 1,000 people and generated a turnover of approximately 220 million euros in 2016.
Didier Soumet, CEO of Bretèche, commented: “We are looking forward to welcoming the Fund, advised by IK Investment Partners, as our new majority shareholder. Together we will continue to pursue our strategy of technological innovation, commercial development, and selective acquisitions.”
Arnaud Thomas, Partner at Equistone Partners Europe, said: “We are proud of our active support for the teams at Bretèche, both to develop original business lines and to pursue its international external growth strategy, particularly with the acquisition last summer of Shick in the field of dosing equipment in the United States.”
Rémi Buttiaux, Partner at IK and advisor to the IK VIII Fund, added: “Bretèche possesses all the characteristics we look for in an investment: a leading market position, a proven track record of commercial success, and an experienced management team. We aim to actively support the management team in their strategy of international growth and innovation, while simultaneously pursuing targeted acquisition opportunities.”
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