Motion Equity Partners buys Altaïr Group

Azulis, Gimv, Arkéa, BNP Développement and Croissance Nord Pas-de-Calais all exit the business after a five-year holding period.

The sale will net listed GP Gimv €2.8m, which the firm claims is above its long-term average return.

The fresh capital will reinforce the company's distribution channels in France and further its expansion in Europe. The company says bolt-on acquisitions across Europe will be considered.

Company
Headquartered in Wasquehal, France, and founded in 1946, Altaïr operates in the cleaning and home-care sector. The company has two production sites near Lille and in Aubagne.

In 2015 the Group generated a turnover of €70m and employed 260 people. The company generates 10% of its revenues from outside France, in Poland, Belgium, Italy, Spain, Romania and Russia.

People
Motion Equity Partners – Patrick Eisenchteter (partner).
Azulis Capital – Gilles Pérony, Nicolas Cossons (partners).
Gimv – Anne Caron (partner).
Altaïr Group – Jean-Pierre Dano (CEO).

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• Topics
• Buyouts
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• Consumer
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• Secondary buyout
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• Motion Equity Partners
• Azulis Capital
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