Argos Expansion backs Vectis group MBI

New president Jean-Christophe Porcher and a group of co-investors will hold 59% of the shares. A number of employees will hold the remaining 7.7%.

Argos Expansion is part of the Argos Soditic group but operates independently from the mid-cap GP. It invested via its €45m eponymous vehicle, with a mix of equity and convertible bonds. The fund usually invests €2-10m per transaction.

CIC Nord-Ouest, Société Générale and BNP Paribas arranged a debt package to finance the acquisition.

Vectis's founders and previous owners were due to retire and were therefore looking to sell the business. Argos Soditic worked on the deal for a year with the new majority shareholder, and the sale process was not intermediated.

Company
Founded in 1935, Vectis specialises in the distribution, rental and maintenance of equipment used in a variety of industries. Its range of products includes forklifts, boats, construction vehicles and various items of industrial machinery. Vectis employs 250 people and posted a €41m turnover in 2011.

People
Louis de Lestanville led the deal for Argos Expansion.

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