PAI in exclusive talks to buy Kiloutou

According to media reports, PAI made a €535m preemptive offer to bypass the auction process. Sagard would reinvest €75m to keep a minority stake in the business.

Sagard backed the €170m buyout of Kiloutou in 2005 to obtain a 51% shareholding from company founder Franky Mulliez. Société Générale and Crédit Agricole were joint arrangers of the banking syndicate, which underwrote debt facilities for the transaction. Leverage represented 60% of the deal value.

Founded in 1980, Lille-based Kiloutou specialises in the short-term renting of construction equipment for building professionals and public works. Employing more than 2,000 staff in 260 branches across France, the company posted a €264.3m turnover in 2009.

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• Topics
• France
• Buyouts
• Exits
• Industrials
• France
• PAI Partners
• Secondary buyout