XAnge and CIC back ITL buyout

Initiative & Finance backed the owner buyout of Ingénierie Technique & Location (ITL) in 2005, securing a 40% stake in the business. Senior debt facilities, comprising a single A-tranche, were underwritten by MLA SNVB, acting alongside NSM Entreprise and Banque Populaire Rives de Paris.

Clichy-based ITL was founded in 1994 and specialises in renting professional equipment in two distinct fields: the environment and medical imagery sectors. Currently employing 20 people, the company posted a €40.5m turnover for 2009 and aims to reach €50m by the end of 2010.

The unquote" team is currently researching this transaction. In-depth deal information for subscribers will follow shortly.

If you have any information regarding this transaction, please contact Grégoire Gille on +44 20 7484 9824 or gregoire.gille@incisivemedia.com

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