3i and funds managed by 3i, have signed an agreement to acquire a majority stake in Etanco, a near Paris, France-based designer, manufacturer and distributor of building fasteners and fixing systems, from IK Investment Partners.
Following the close of the transaction, which still subject to customary conditions including anti-trust approval, the company’s management team will remain committed to the business with CEO Ronan Lebraut re-investing alongside 3i and retaining a 25% stake in the company.
Financial terms remained undisclosed.
3i’s investment will enable the company to grow and strengthen its market position, through consolidation of the market as well as developing new product ranges and increasing its customer base.
With 600 employees, Etanco Etanco provides a full range of 45,000 products grouped under four categories: waterproofing, roofing, safety and facades. Except France, the company has a strong presence in Belgium, Italy and Eastern Europe through its subsidiary Friulsider.
For further information please contact:
Kathryn van der Kroft, 3i Press Office,
email. [email protected]
tel. +44 207 975 3021