NextStage exits interest in Groupe Gruau
NextStage has exited its investment in Groupe Gruau, a commercial vehicle converter, selling its stake back to Patrick Gruau and reaping a 2.36x multiple on its initial investment.
The firm was sold by funds NextStage Entreprises FCPR 1, le FCPI NextStage Entreprises, Le FCPI NextStage Entreprises 2003 and Le FCPI NextStage Entreprises 2004.
Groupe Gruau, founded in 1889, converts commercial vehicles and vans to produce police vehicles, ambulances and wheelchair accessible vans.
NextStage originally invested in the firm in 2005 with a €7m equity ticket alongside Ouest Croissance. Recently, the FSI led a €17m investment round alongside NextStage, Ouest Croissance, Océan Participation and Volney Development.
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