Crédit Agricole Private Equity invests in the Altrad group
The Altrad group has opened its capital to Crédit Agricole Private Equity as part of a move to strengthen its equity.
The total value of the transaction is €16 million, jointly invested by Crédit Agricole Private Equity’s Capital Développement & Transmission funds (whose new ‘FCPR’ mutual fund is in the process of raising funds) and regional investment funds Sofipaca and Sofilaro (owned by Crédit Agricole’s Provence Alpes Côte d’Azur and Languedoc Roussillon Regional Banks), which have contributed €1 million to the transaction.
The total stake acquired is a minority stake.
The Altrad group, based in Florensac, Hérault (French department number 34), generates sales of over €200 million.
With well known brands such as Altrad, Plettac, Arhnoldt and even Lescha, Altrad is world market leader in concrete mixers and European market leader in scaffolding (rentals and sales). The company also generates a significant proportion of revenues from supports, tubular equipment for public authorities and, for the last few months, wheelbarrows.
The company has production and marketing subsidiaries in France, the UK and Germany, as well as Poland, Slovenia, Hungary and Tunisia. It is also in the process of opening a plant in China. Thanks to its broad geographical presence, the company benefits from excellent sales and marketing coverage.
After pursuing a sustained acquisition strategy for several years, with this deal the company aims to improve its financial situation in order to be able to continue to grow.
Over the coming years, the company plans to streamline its structures, expand in markets in which it is still underrepresented and carry out further acquisitions, including in associated business lines.
Founders: Mohed Altrad and Richard Alcock
Finance: Isabelle Garcia
Advisory – Financial information: Patrick Tombereau
Crédit Agricole Private Equity : Eric Pencreac’h, Daniel Balland and Fabrice Voituron
Sofipaca : André Saint Michel
Sofilaro : Gilbert Haase
Legal: De Pardieu Brocas Maffei : Frédéric Bucher and Olivier Huyghues Despointes
Financial: Deloitte & Associés : Anne Martini and Christèle Fraisse
Insurance: Marsh Private Equity : Humbert d'Autichant and Antoine Remy
Market: PriceWaterhouseCoopers : Didier Sidois and Emeric Déramaux
About Crédit Agricole Private Equity
Crédit Agricole Private Equity is the asset management company of Crédit Agricole S.A., dedicated to private equity investments in unlisted companies.
30 professionals specialising in four activity segments (Expansion Capital & LBO, Venture Capital, Secondary Market, Mezzanine) manage €1.3 billion under French private equity mutual funds (FCPR and FCPI) and private equity companies (SCR). Crédit Agricole Private Equity advises business managers on their growth plans.
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