123Venture injects €1.6m in Sorec

Sorec will use the fresh funds to increase its output via the financing of a new production line; it will also keep developing its modular housing manufacturing activities.

123Venture was attracted by the management's experience and the opportunities to penetrate the modular housing market.

Founded over 40 years ago, Sorec specialises in the design and manufacturing of wood and metal furniture. It mainly targets businesses, providing goods such as office furniture and point-of-sale furnishings.

The company has recently extended its activity to the conception of wooden modular housing. Sorec employs 130 people across two factories in La Charité sur Loire. It posted a €15m turnover for 2009.

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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