LBO France has bought a majority stake in French manufacturer of automation components Crouzet for an undisclosed sum from InnoVistaSensors, a company owned by PAI Partners, The Carlyle Group and Schneider Electric.
EQT IX is expected to be 70-75% invested following the deal
Previous fund held a final close in 2012 with capital commitments of USD 840m
MoU marks LBO France's first foray into the Chinese market, with plans to open a local office
ECI bought the asset from Phoenix less than three years ago