Eurazeo buys ST Group in SBO

The GP will invest around €40m to acquire a stake of approximately 60% in the business. Managers Eric Thord and Emmanuel Chopin, and other members of the management team will retain the remainder. UI Gestion has exited the investment. 

The backing of Eurazeo will help the business to accelerate its expansion in Europe and the US. 

Previous funding
French GP UI Gestion bought a stake in Sorhea in 2012. Two years later, Sorhea and Til Technologies merged and ST Group was created. The creation of a new holding saw BPI France and Crédit Agricole Régions Investissement (Carvest) take a stake in the business.

In December 2017, a group of lenders led by Crédit Agricole Centre Est and including BPI France provided a €22m senior debt facility to ST Group.

Company
Founded in 1987 and based in Vaulx-en-velin, Sorhea is a physical intrusions detection specialist that designs and manufactures security technology such as multiplexed infrared barriers.

Founded in 1988 in Aix-en-Provence, Til Technologies is a specialist in electronic security for building control. The brand designs, manufactures and markets hardware and software components for access control, intrusion detection, video surveillance and technical management.

The two businesses merged in 2014 and are part of the holding ST Group. The group generated a €29m turnover in 2017 and services a wide range of clients, including power generation facilities, utilities, prisons, logistics infrastructure, public safety/defence sites, bank and insurance headquarters. The group employs approximately 160 people spread over five sites, including two in France.

People
Eurazeo – Joanne Dubail (principal).
ST Group – Eric Thord (president).

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• Topics
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• UI Gestion
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• Secondary buyout