European private equity firm AXA Private Equity has acquired a majority stake in Ouvêo group, a French window manufacturer, alongside existing backers Alliance Entreprendre and FSI Régions.
Following the investment, Jean-Luc Nouveau remains CEO of the group, while the management team increases its stake in the company with around ten executives becoming equity holders.
AXA Private Equity will work alongside management team to help Ouvêo grow organically and increase its geographic presence throughout France, particularly in the East, building on its consolidated market positions in the West of the country.
Formed by the merger in March 2007 of Guigneux, a manufacturer of PVC and wood windows based in Brittany, and Plastiferm, a producer of PVC and aluminum windows, Ouvêo produces and sells a full line of windows for the renovation sector. The company has annual revenues exceeding €30m and more than 65,000 windows sold per year.