EdRip's Saphymo sold to CNIM's Bertin

Ellie Pullen
31 October 2014

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Edmond de Rothschild Investment Partners' (EdRip) and Ace Management's portfolio company, Saphymo Group, a French provider of instrumentation equipment for detecting ionising radiation, is set to be acquired by CNIM subsidiary Bertin Technologies.

The acquisition is expected to be completed in January next year. Saphymo will retain its current workforce and operating sites following the takeover by Bertin.

Bertin was previously owned by LBO France until it was bought by CNIM in February 2008. LBO France had acquired Bertin in May 1999 for around €15.2m, €6.1m of which LBO France provided as equity, according to unquote" data. Industrial group Finuchem (now Gorgé Group) also took part in the transaction.

Previous investment
In 2008, Saphymo was acquired in a buy-in management buyout by EdRip and Ace. The company's two founding shareholders sold 100% of the business to the consortium. At the time of the transaction, Sapyhmo employed 126 staff and generated €22m in turnover.

In February last year, EdRip and Ace provided Saphymo with a further €2m in capital alongside the company's management. The business also received a €750,000 development loan from Sofired and €770,000 from Oseo Grenoble.

Company
Founded in 1952, Saphymo is headquartered in Saint-Aubin with additional offices in Grenoble, Thiron-Gardais, Bègles and two subsidiaries in Germany and Italy.

The company manufactures products for the detection, measurement and monitoring of ionising radiation. Products include portable radiation protection gear, contamination monitoring systems and survey meters.

The company operates within the nuclear and environmental industries, as well as defence and security.

Saphymo employs 160 staff and generated €20m in revenues last year.

People
Laurent Schneider-Maunoury is the CEO of Saphymo. Philippe Demigné is the CEO of Bertin.