Sotralu Group, supported by its majority shareholder Bridgepoint Development Capital, has acquired GNS Group in Portugal. Its aim is to consolidate its position in Europe and continue to develop its export market further afield (China, India, the Middle East).
With sales of more than EUR8 million and strong growth over the last three years, the family-owned GNS Group is a Portuguese specialist in locks, hinges and accessories for aluminium joinery (including doors). Its products will complement the Sotralu Group range, and particularly that of its Italian subsidiary Erreti. Based in Agueda in Portugal, the GNS group has 100 employees and already makes more than 40 per cent of its sales abroad. Arménio Silva, the company director and minority shareholder, is reinvesting significantly in this new operation.
After the merger with Erreti from Italy in 2012, Sotralu Group is now completing its second external growth acquisition in Europe. This is consistent with the roadmap set out by Thierry St Clair Deville, CEO of Sotralu Group, and Bridgepoint Development Capital. In parallel with strong organic growth in its core market in France and Europe, due to the group’s operational excellence, Sotralu group is looking to identify opportunities to access new markets, new products and new industrial expertise.
“The success of this growth transaction confirms the vision and ambition that Sotralu group shares with Bridgepoint Development Capital, to allow its skills to be fully exploited in Europe. It represents a unique advantage to consolidate our market share in Europe and develop our export market further afield. The complementary nature of Erreti, GNS and Sotralu’s ranges and markets will foster commercial and industrial synergies which will support our group’s development,” says Thierry Sainte-Claire Deville.
“The acquisition of GNS is perfectly in line with the development strategy set out with Thierry Sainte-Claire Deville, which is to expand the range of products in new export markets while consolidating Sotralu Group’s leading position in Europe. With GNS, Sotralu Group reaches a critical size in Europe with more than 50 per cent of its sales now derived from exports. This acquisition demonstrates the motivation of the management and shareholders to accelerate the Group’s growth through targeted acquisitions” says Bridgepoint Development Capital.
This acquisition has been financed solely by an external growth loan set up last year and an additional term loan from BNP SME Lending.
Following this acquisition, Sotralu Group will now generate sales of almost EUR35 million from three operational sites in France, Italy and Portugal.
