AXA Private Equity plans disposal o

AXA Private Equity (AXA PE) is considering a potential disposal of its shareholding in Souriau following unsolicited offers it received from various investors and industrial players. AXA PE and Souriau’s management team are currently evaluating the different proposals. Souriau is Europe’s leading manufacturer of connectors designed for industrial, military and aerospace markets. On 30 April 2003 AXA PE backed the MBO of Souriau to acquire an 85% shareholding, alongside Souriau’s management team headed by François Calvarin. Although the exact value of the deal was never disclosed, it was understood to have been in the region of EUR 150-200m and was financed with 60% debt and 40% equity. Crédit Agricole Indosuez and ING Barings arranged senior debt and working capital finance, while Intermediate Capital Group financed the mezzanine tranche.

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