Peaked Hill invests €60m in Arc

The Ibled-Durand family invested €2m to retain a 20% stake in the business. The family had been Arc's controlling shareholder for more than 100 years.

Business transformation specialists Cédric Aymard and Didier Riebel also took part in the transaction.

Peaked Hill acquired nearly all of Arc's existing bank debt as part of the transaction.

Tim Gollin, the founder and managing partner of Peaked Hill, will become the new CEO of Arc, while Aymard and Riebel will take on operational roles in the business.

Arc had announced in September 2014 that it was in exclusive talks with HIG Capital France regarding a takeover.

The next month, the company announced it had redirected its plans toward a takeover by Peaked Hil as certain conditions with HIG Capital could not be met.

Company
Established in 1825 and headquartered in Arques, Arc is a producer of glassware. Its products include the Luminarc, Cristal d'Arques Paris and Chef & Sommelier brands.

Arc sells its products in around 160 countries and has production sites in France, China, UAE, Russia and the US.

The company employs 10,520 staff – 5,690 of whom are based in France – and generated revenues of €901m in 2013.

People
Tim Gollin is a managing partner at Peaked Hill and will become the company's new CEO.

Advisers
Equity - Lazard, Yann Dever, Gilles Mentre (Corporate finance); Ashurst, Jean-Pierre Farges (Legal); Jones Day, Ira White (Legal).

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• France
• Consumer
• Turnaround/Special Situations
• France
• HIG Capital