BPI France et al. back Groupe Transparence in MBO

The deal also coincided with the appointment of Mickael Labrosse and Gilles Delpierre as CEOs, while Jean-Luc Bierce has stepped down.

Management retained a minority stake. 

Both Carvest and Esfin Gestion usually take part in minority investments. Esfin used its Esfin Participations vehicle for the investment, which provides €300,000-1.5m tickets.

Company
Groupe Transparence manufactures and sells insulating glass and glass-related products intended for building professionals. The business is divided into three companies: VIT, ATV and Varnet. Groupe Transparence's turnover stands at €20m, of which €16m is generated by VIT. The company employs 100 staff and VIT is headquartered in Paray le Monial.

People
BPI France – Laurence Gauthier (investment director).
Carvest – Denis Mervaille (investment director); Vincent Becquevort (analyst).
Invest PME – Mathilde Faglin (investment director).
Esfin Gestion – Patrice Baticle (investment director).

Advisers              
Equity – Lamartine Conseil Lyon, Cédric Sapede, Camille Ferrat (legal).

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