Qualium’s Sogal merges with AGEM

The bolt-on acquisition, financed with Sogal's own resources, will see both companies merging into a group employing 780 professionals and foreseen to generate €100m in turnover.

According to Qualium, the existing management teams will stay at the helm as the group looks to bolster its position within the French customised interior furniture sector and expand internationally.

The add-on is the first by Sogal since it was picked up by Qualium in November 2010. The transaction, featuring a debt package underwritten by HSBC, Banque Populaire Altantique and Societe Generale, saw Qualium secure a 70% stake from previous shareholders Crédit Agricole Private Equity, CIC Finance and IPO. Meanwhile, SME-focused firm UI Gestion deployed capital alongside Qualium and became a minority shareholder in the business, according to unquote" data.

The SBO marked the end of Crédit Agricole Private Equity, CIC Finance and IPO's two-year ownership of Sogal, having acquired the door manufacturer from its founders in January 2008.

Company
Sarthe-headquartered AGEM was established in 1988 with a focus on made-to-measure interior furniture services for kitchens and storage spaces. Manufactured at three production sites, its products are sold via a network of 40 independent outlets.

Founded in 1981, Établissements Sogal is an interior furniture manufacturer focusing on cupboard doors, sliding room dividers and walk-in closets. Manufactured at three production plants in France, the company's products are sold under the brands Sogal, Iliko and Ykario and La Manufacture d'Intérieurs across more than 2,300 stores in the country. Headquartered la Jumellière, the business is understood to employ 550 people and most recently reported around €85m in sales.

People
Qualium Investissement was represented by managing director Jacques Pancrazi. Dominique Engasser is CEO at Etablissements Sogal.

Advisers
Equity - Willkie Farr & Gallagher, Gabriel Flandin, Elise Carrera (Legal).

 

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• Topics
• France
• Expansion
• Consumer
• France
• Qualium Investissement