AXA Private Equity has signed an agreement for the sale of 100 per cent of its interest in Unipex Group to the IK2007 Fund advised by IK Investment Partners.
The completion of the transaction is subject to certain customary conditions, but the parties expect the transaction to be completed by the end of September.
Patrice Barthelmes, chief executive of Unipex Group, says: "We would like to thank AXA Private Equity for its active ownership during these four years, which has enabled us to gain a leading position. We remain focused on the future growth of our business and will continue to offer high quality products and services to our customers. We look forward to working with IK Investment Partners as we grow Unipex Group’s leading global market position. We anticipate a successful close to 2012 and are excited about the many opportunities we see in our target markets."
AXA Private Equity originally acquired Unipex from Atrium Group in 2008. Since then, Unipex’s revenues have steadily increased to EUR200m in 2012. A combination of organic growth and four build-up acquisitions have enabled the group to extend both its geographic reach and product offering.
Béatrice Beitmann, managing director of AXA Private Equity, says: “Despite the tough economic environment, with our support Unipex Group has successfully implemented its growth strategy and ensured the next stage of its development. Our continued commitment and support has seen the group become a major global player in its sector. The company is now well equipped to continue its future growth in its key markets.”
Rémi Buttiaux (pictured), partner at IK and adviser to the IK2007 Fund, says: “Unipex is led by an exceptional management team which has established leading positions in its target markets. Its diversified business mix has proven to be resilient to recession while benefiting from increasing demand for natural cosmetic products. We are looking forward to supporting Unipex expand its offering and leverage its market position.”