Astorg seals Areva unit purchase

Astorg had entered exclusive negotiations over the acquisition of Canberra in October last year. The deal should be finalised by Q2 this year and would reportedly value the business at around €300m.

The sale of Canberra is part of Areva's Action 2016 strategic plan implemented in December 2011.

Based in Meriden, Connecticut, Canberra posted a €250m turnover in 2012 and employs 1,050 staff, a fourth of whom are based in France.

Astorg has held several portfolio companies in the energy and power sector over the past few years, including electronic equipment company Photonis, which it acquired from Axa Private Equity in July 2008 and sold back to Axa PE in September 2011. Astorg has also had in its portfolio French oil and gas advisory firm Geoservices, which is currently owned by technology provider Schlumberger, and French water allocation services company CIS, currently owned by German utilities billing company Ista International.

Astorg's current portfolio companies in the sector include electrical equipment manufacturer Microconnections and Swiss mining business Metalor.

 

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Send to  

• Topics
• Buyouts
• Industrials
• France
• Astorg Partners