Eurazeo Croissance unveils takeover of IES-Synergy.
19 June 2013 - Eurazeo Croissance, the growth capital arm of French investor Eurazeo SA (EPA:RF), said it had bought a 93% stake, together with company management,A in local electric vehicle chargers maker IES-Synergy, a portfolio company of Demeter Partners.
The deal values the target at EUR22m (USD29.5m), Eurazeo Croissance said.
IES, which provides onboard and external battery charging solutions, catering to European, North American and Asian clients, is positioned to benefit from a major spike in its market, Eurazeo Croissance managing director Yannick Marion said, commenting on the transaction.
Backed by Eurazeo Croissance, IES will be able to boost research and development activities in Montpellier, where it is based, as well as push forward with its international commercial development, the buyer said.
IES' revenues last year amounted to EUR14m.Country: FranceSector: Machinery/Engineering, Motor VehiclesTarget: IES-SynergyBuyer: Eurazeo SA , Eurazeo Croissance, IES-Synergy managersVendor: Demeter PartnersType: LBO, MBOStatus: ClosedComment: Deal values target at USD29.5m