Equistone buys Sicame from Siparex

According to Siparex, the Sicame exit resulted in a return above the 2x mark with regards to its latest investment in the business.

Equistone Partners secured a majority stake in Sicame. The asset is familiar to the buyer, which already owned a 20% holding since a €40m round alongside CEO Pierre François, the management team and existing backers in December 2009.

Siparex had been a shareholder in Sicame since the 1990s, when it supported the company's transition from a small to a medium-sized business. Having reportedly tripled in size by 2010, the business then dedicated the funds raised in December 2009 to a build-up spree, leading to more than 10 bolt-ons outside France.

The exit is the latest to be announced by Siparex in 2015. The last few months have seen the firm sell its stakes in swimming pool designer Lermite, outdoor lighting case specialist Sogexi, medical supplies business Tetra Medical and intermediation software developer DSO Interactive.

Company
Founded in 1955, Groupe Sicame designs equipment used for the maintenance of electric, public lighting and telecommunications networks, industrial connector products and tools for electricians and manufacturers.

Headquartered in Pompadour, the business employs 2,500 people worldwide and most recently posted €350m in revenues, two thirds of which came from its operations abroad.

People
The work of Siparex on the deal was led by Benoît Métais, who is part of the VC's executive board.

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• Equistone Partners Europe