Eurazeo acquires IES from Demeter

IES's management is believed to have acquired the remaining stake in the company. The transaction valued the business at €22m.

The new financing will allow IES to expand internationally, as well as support the company's research and development activities.

Demeter acquired IES in a management buyout in December 2006. CIC provided a debt package for the deal, which saw CDC Capital exit the business, according to Demeter.

Company
IES was founded in 1992. The company is based in Montpellier and employs 55 staff. IES's revenues have increased from €5m in 2006 to €14m in 2012.

The company designs and manufactures both on-board and external chargers for electric vehicles, including public charging stations and mobile chargers. According to IES, it supplies 70,000 chargers each year to the electric vehicle markets in Europe, the US and Asia. The company's clients include Renault, Volkswagen and BMW.

People
Gil Souviron is the CEO of IES. Yannick Marion is a managing director at Eurazeo.

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• Topics
• France
• Buyouts
• Industrials
• Eurazeo
• Demeter Partners
• France
• Secondary buyout