LBO France is in exclusive negotiations with Equistone Partners for the sale of Averys, a European producer of storage systems, racks and metallic furniture.
The transaction remains subject to necessary consultations and approvals and could be finalised in the coming months.
In 2013, under the impulsion of LBO France, Averys completed a transformational build-up with the acquisition of Stow, a leader in static racks and storage systems with a major production facility in Belgium. In additional to their similar activities, Averys and Stow presented important geographic complementarities. Through this major acquisition, Averys doubled in size becoming the 2nd largest group in the industry in Europe.
In 2014, and following the successful integration of Stow, Averys completed a EUR165 million refinancing of senior debt.
The group had sales of roughly EUR360 million in 2014.
Laurent Mabileau, Director with LBO France, says: “We are proud to have accompanied Averys and its management since 2008. Over this period, Averys has become a true European leader with two thirds of its activity outside of France and strong growth in Asia. The successful refinancing of 165 million euros of debt in October 2014 is a sign of the good execution and integration of Stow within the group. Today, Averys is perfectly positioned to continue its development, notably in view of further consolidation in the sector.”
In this transaction, LBO France was advised by Messier Maris.
Headquartered in Paris, Averys is an international group involved in the conception, the production and the installation of storage systems: racks, automatisms and metallic furniture. The group has more than 1 300 employees in seven countries: France, Belgium, Germany, Poland, Czech Republic and China. Averys also has commercial entities in eleven countries worldwide. With their own engineering and design departments and the most modern equipment for design calculation and automatic quotations, the group’s companies offer the widest range of products for all kinds of storage and filing needs.
As a reminder, LBO France has a significant expertise in capital goods. In 2014, LBO France sold Exxelia, a global leading manufacturer of customised passive components to IK Investment Partners. LBO France’s current portfolio includes Alvest, a global leader in the production and distribution of airport Group Support Equipments (GSE), and Tractel, a world leader in permanent or temporary access solutions selling listing equipment and elevated working products.
