iXO backs MBO for Exsto

The transaction was led by Exsto president Christophe Torres and according to Bref Eco, the GP invested €20m in the deal.

The company’s existing investors Maelo, BNP Paribas Développement and Credit Agricole Sud Rhone-Alpes will stay on board while Siparex exited the capital, the report noted.

The report stated that Exsto’s management team increased its stake from 5% to 20% and that the founder Michel Baule, a shareholder through its family office Eximium, left the business.

The report mentioned that Exsto is studying several acquisitions to penetrate new markets abroad and complementary technologies. The company aims to grow via acquisitions in France, Brazil, Italy and the US. 

Previous funding
In 2015, a Siparex-backed MBO for Exsto saw CEO Christophe Torrès become the lead shareholder in the business. The GP deployed capital from its €130m Siparex Midcap 2 fund. 

Company
Founded in 1976 and based in Romans-sur-Isere, Exsto is a manufacturer of high-performance polyurethane. The company serves small and large clients in sectors including offshore oil, automotive, aeronautics and construction. The company generates revenues of €40m and employs 250 staff.

People
iXO - Alexandre Sagnon (associate director).
Exsto - Christophe Torres (president).

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• Topics
• Buyouts
• France
• Industrials
• France
• iXO Private Equity
• Siparex
• Owner buyout