LBO France and Abenex have signed an exclusive agreement aimed at the acquisition by LBO France of the majority stake in RG Safety Group currently held by Abenex.
Founded in 1987, headquartered in Saint Priest, and now managed by Pierre Manchini (CEO), RG Safety Group is the French leading specialised distributor of Personal Protective Equipment (PPE). The group distributes a wide range of products (35,000 references) covering 6 main protection fields: Head, Hand, Foot, Body, Breathing, and Hygiene & Safety in the working environment. The Group is also successfully selling products under its own brand, Ergos, which today accounts for ca. 30% of total sales. Main clients comprise of large corporations, SMEs from the industry and service sectors and public sector entities.
Operating through 27 branches (of which 20 in France), the Group employs 430 employees. In 2016, RG Safety Group saw sales growing by 17% to reach over €180M, notably further to the acquisition of Italian A+A Monferrato. International (outside France) sales now account for ca. 20% of total sales.
The transaction remains subject to consultations with employee representative bodies and approval by relevant competition authorities.
Jérôme Guez, Partner at LBO France, says: “We would be pleased to partner with Pierre Manchini and his teams to support RG Safety Group in its continued growth and innovation capacity, enabling it to become one of Europe’s leading distributors of Personal Protective Equipment.”
“We are very excited about the possibility to enter in a new partnership with LBO France to continue to execute the strategic plan we have initiated 3 years from now, and together, accelerate, organically and through targeted acquisitions, RG Safety Group’s growth trajectory and geographic expansion in Europe,” adds Pierre Manchini, CEO of RG Safety Group.
Johann Dupont, Partner in charge of Operating team at Abenex, says: “Abenex is proud to have supported the growth and development of RG Safety Group during these past 4 years, paving the way for a true European leadership.”
