Vulcanic, a French designer and manufacturer of electrical heating and cooling solutions for industrial applications, was recently acquired by Abénex Capital alongside Chairman Christian Schott and his team.
The mezzanine financing supporting the transaction was arranged and underwritten by AXA Private Equity.
The acquisition (from 21 Centrale Partners) and the proceeds from the financing will contribute to the long term development of the company and its international expansion towards new markets. Vulcanic has also already undertaken an extensive international development, notably with the creation of a subsidiary in the UK in 2010 and the acquisition of new production capacity in Spain in 2011. This expansion has allowed the company to develop large-scale engineering projects in the petrochemicals and energy production sectors.
Vulcanic currently provides a diversified customer base of over 30,000 accounts with a range of products for industrial heating and for temperature measurement and control.