Siparex sells Flip to trade

Stella Group has 900 employees and annual sales of €200m. Unquote reported last month that, according to French press, ICG had appointed Lazard to sell the business.

Siparex acquired a stake in Flip in December 2016 from Hella, an Austrian designer and manufacturer of weather protection systems, via its €130m mid-market buyout fund Siparex Midcap 2, closed in 2012.

The GP invested €3.2m in the OBO at the time. The transaction enabled company director Geoffroy Toulemonde to increase his majority stake in the group. At the time, Flip was aiming to double its €20m turnover over the following five years.

Company
Flip, founded in 1947 and based in Gondecourt, produces home window shutters, blinds and shades and in particular rolling shutters. Its clientele includes professionals such as regional joineries, self-employed workers or distributor networks. Flip has an internal engineering department specialised in energy efficiency and acoustics.

The business employs 110 people and generates annual revenues of €22m.

People
Siparex – Antoine Krug (managing director); Stéphane Agaësse (deputy director). 

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