GIMV backs Onedirect MBO

The private equity house will hold a majority stake, with the remainder of the shares split between the management team and the company's founders.

Gimv was attracted by the growing market for online purchases of telephone products, and will look at further opportunities for acquisitions and international expansion.

Siparex, which invested €3m for a minority stake in the business in 2007, entirely exited its position following the buyout.

Founded in 1999, Saint Estève-based Onedirect is an e-commerce business specialising in the sale of telephone equipment to professionals. Onedirect is also present in Spain, Portugal, Italy and Germany. With a 75-strong workforce, the company posted a €24m 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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