Apax France wraps up Fund VI with Albioma share distribution

Apax held a stake of around 30% in the business prior to the distribution, which will now be held by LPs in Apax France VI. The deal will allow the GP to wrap up the vehicle, as Albioma was the last remaining company in the portfolio. Apax France VI closed on €720m in 2000 – it was set up as a traditional 10-year FCPR.

Meanwhile, Altamir – which for years acted a Apax's listed co-investment vehicle but is now an LP in the GP's funds – will retain its 12% stake in the company.

Apax and Altamir stated that the company's turnover and EBITDA doubled since they had bought their stake in Albioma in 2005.

Company
With roots dating back to 1982, Albioma is an energy producer developing and operating projects in the sectors of thermal biomass, anaerobic digestion and solar power. It generated turnover of €354m in 2014, with EBITDA of €129m.

People
Apax team members Eddie Misrahi and Franck Hagège will leave Albioma's board following the deal.

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