Perfectis exits Fasia Industries in trade sale

Perfectis bought a 52% stake in Fasia in 2006, investing via its €122m Perfectis II fund. Fasia's CEO retained the remainder of the shares. The business has since then grown through acquisitions. However, Fasia's current €52m turnover is slightly lower than the €58m generated by the business at the time of the buyout.

Marck operates in the same sector as Fasia. While mark generates 75% of its turnover abroad, the merger with Fasia will allow it to achieve a balance between exports and domestic sales. The combined entity generates revenues in excess of €120m and employs 490 staff.

The Perfectis management team, led by Gabriel Fossorier, recently upped its stake in the private equity firm as industrial holding HLD bought it from insurer Euler Hermes.

The change of ownership allowed Perfectis to keep operating – the GP was left unable to make new investments after it had to halt fundraising for its third fund in 2009.

Company
Paris-based Fasia specialises in uniforms, as well as accessories and equipment targeting businesses and civil services. Founded in 1850, the group reportedly generated a 3-4% EBITDA on its €50m turnover last year.

People
Gabriel Fossorier led the deal for Perfectis.

Advisers
Acquirer – Delsol Avocats (Legal).
Company – Paul Hastings (Legal).

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• Topics
• France
• Exits
• Consumer
• France
• Trade sale
• Perfectis Private Equity