IK Investment Partners’ IK VIII Fund has entered into exclusive negotiations with Equistone to acquire a majority stake in Bretèche Industrie Group (Bretèche), a 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 approvals.
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 EUR220 million in 2016.
“We are very pleased to welcome 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,” says Didier Soumet, CEO of Bretèche.
Arnaud Thomas (pictured), Partner at Equistone Partners Europe, says: “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 the field of dosing equipment in the United States.”
“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,” adds Rémi Buttiaux, Partner at IK and advisor to the IK VIII Fund.
