A consortium of French private equity firms has acquired Safe Cronite – a division of Safe, a Swiss metal processing group backed by Siparex and BNP Paribas Developpement.
Austria-based electrical engineering company had filed for insolvency in April 2020
VC house expects to hold a €35-45m first close by the end of July and a final close in around one year
LPs in Exponent III include Aberdeen Standard Investments, Central Pension Fund and CNP Assurances
Company has generated €12m in revenues and has a 25% EBITDA margin