Perceva in exclusive talks for Premdor France

The all-equity purchase, expected to be finalised before the end of the summer, is subject to anti-trust approvals and consultation with the works council at Premdor France.

According to Perceva, the negotiations were initiated by Premdor interim CEO Régis Rivière, who contacted the GP to discuss the terms of an acquisition.

Information regarding the price to be paid by Perceva remains confidential. The firm's France Special Situations Fund II, however, used to finance the transaction, typically targets investments in the €10-40m range.

The vehicle closed in July 2014, when it reached its €200m hard-cap three months after initiating fundraising. According to market sources, Premdor France represents its second investment to date.

Bordeaux-based Premdor is the subsidiary of US parent Masonite, a Tampa-headquartered door designer and manufacturer that is also present in western and eastern Europe, South America and Asia.

Following the lull in the US construction market, the group was forced to concentrate on restructuring and financing its balance sheet. Masonite needed to seek a majority shareholder for its operations in France, which was also in financial distress following a similar downturn in the French construction sector, according to Perceva.

The GP intends to reorganise Premdor France across the board, with plans to develop its activity via regional offices in Normandy, central France and in the south-west of the country.

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

• Topics
• France
• Buyouts
• Industrials
• Perceva Capital