Argos Wityu acquires Marchegay Technologies from the Richel Group

Argos Wityu acquires Marchegay Technologies from the Richel Group

Argos Wityu acquires Marchegay Technologies from the Richel Group green_squares


Paris – Argos Wityu announces the acquisition of Marchegay Technologies, French leader in glass buildings and a major player in the renewable energies sector, by way of a majority MBO alongside the management team.

Following the signature last July of a preliminary agreement to sell the totality of Marchegay’s equity, the final Sale and Purchase Agreement was signed on 20th October 2011.

Marchegay Technologies was founded more than 60 years ago and is engaged in two activities:

  • the design, construction and installation of glass buildings, in particular production greenhouses and garden centres ;
  • the development, manufacture and installation of mounting systems for photovoltaic roofing installations for residential, industrial, agricultural or commercial buildings.

Located in Luçon (85), France, the company has carried out projects in more than 30 countries and its turnover in 2011 is €40m.

After 10 years within the Richel Group, Marchegay Technologies regains its autonomy through the MBO with Argos Wityu. The aim of the operation is to accompany the management team in the achievement of its objectives:

  • reinforce its position as leader in the greenhouse and garden centre market in France ;
  • pursue its international development, in particular in Asia ;
  • accelerate the growth of its activity in the photovoltaic sector.

Franck Champain, CEO of Marchegay Technologies comments: “With more than 60 years of experience in the construction of greenhouses and glass buildings, Marchegay Technologies has acquired, in the last 10 years, the means to ensure its future growth through innovation and export. The conclusion of this MBO with Argos Wityu provides new impetus to consolidate the current positions and acquire a significant market share both in the renewable energies market and in low-energy buildings. “

Gilles Mougenot, Chairman of Argos Wityu France adds: «We are delighted to be able to accompany the management team in its ambitious development project. With a staff of 145 people, integrated R&D and engineering departments, Marchegay Technologies has numerous advantages which will enable it to reinforce its position as leader in the glass building market and to continue its growth in the very promising renewable energy sector.”

Following the acquisitions of Dimar (Italy) and of Saleco and BMF (Switzerland), the acquisition of Marchegay completes the Argos Wityu Group’s 4th transaction in 2011.

Team
Argos Wityu : Gilles Mougenot, Karel Kroupa, Frédéric Quéru
Marchegay Technologies : Franck Champain, Gérard Parpaillon, Laurent Poissonnet

Purchaser’s Advisors
Financial: Ernst & Young (Pierre Jouanne, Charles Rousset)
Strategic: Cepton (Bertrand Kleinmann), Solving Efeso (Jean Veillon), Clear Consult (Claire Tutenuit)
Legal: SJ Berwin (Maxence Bloch, Pierre-Louis Sevegrand, Charlotte Cloix)
Fiscal: Arsène Taxand (Franck Chaminade, Brice Picard)
Insurance: ACP-Siaci St Honoré (Eric Rémus, Michaël Robart),

Financing
Crédit Agricole Ouest Alliance (Pascal Le Campion, Ludovic Normand, Marcel Bidaud)

About Argos Wityu
Argos Wityu is an independent European private equity group with offices in Paris, Milan and Geneva. Since its creation in 1989, Argos Wityu has carried out more than 50 transactions focusing on management buy-outs (MBO) and buy-ins (MBI) in small and medium companies.

Argos Wityu typically takes majority stakes ranging from €5m to €50m in companies with revenue of €20m to €400m. The firm has developed a track record of unusual, complex and off-market transactions where the firm’s combination of local presence and international experience is able to add value to the small and medium-sized businesses it invests in.
Assets under management dedicated to buyout transactions have reached €700m since the first and final close of Euroknights VI at the end of 2010.

For more information, please visit our website www.argos-soditic.com

Press contact – Céline LANOUX, clanoux@argos.wityu.fund, tél. +33 1 53 67 20 50

 

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