Butler-backed Sernam interested in Mory

The Pantin-based transporter posted a €731m turnover and €11.8m EBITDA in 2009. Its financials improved in 2010, according to media reports. Mory currently employs in excess of 5,000 people.

Butler Capital acquired 51.8% of troubled industrial delivery services company Sernam in 2007. The turnaround investor paid €10.3m in equity and convertible bonds for its stake, which valued the business post-money at around €14m.

Sernam is a former subsidiary of French state rail group SNCF, which specialises in delivery services and logistics. The group has 52 branches across France and employed 1,900 staff in 2009.

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• Topics
• France
• Expansion
• Support services
• Turnaround/Special Situations
• France
• Acquisition finance