PE-backed Addev Materials bolts on Graytone

The acquisition of Pexa and PSG, Graytone's subsidiaries, is part of Addev's strategy to expand its supply range of adhesives, sealants and chemicals, to include paints and coatings, together with value-added activities such as small-batch manufacturing, tinting and decanting.

Addev will focus on synergies from the Graytone project in Europe and the Middle East, according to a statement.

Earlier this month Tikehau Capital and BPI France invested €38m in France-based Addev Materials, acquiring a substantial minority stake in the business.

Founded in 2006 and based in Lyon, Addev Materials is an industrial company specialised in the conversion and custom cutting of high-performance materials (insulation, technical films, adhesives, foams, etc). With facilities both in Europe and North America, Addev Materials employs around 500 people and generates a turnover of almost €110m. The business was able to double its turnover in the past five years.

Company
Founded in 2000 and headquartered in Poole, Graytone Group is a distributor of surface treatments, coatings, chemicals, composites, and other materials to the aerospace, defense, space, energy, and electronics markets.

Graytone and its subsidiaries Pexa and PSG generate revenues of €25m and have 50 employees, according to the French-publication La Tribune.

People
Addev Materials - Julien Duvanel (CEO).

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• Topics
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• France
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• France
• Tikehau Capital
• BPI France