Equistone's Averys bolts on Storax

Following the acquisition, Storax will continue to operate as an independent company with its own brand, while benefiting from Averys' logistical support, commercial synergies and industrial practices.

This is the first bolt-on made by Averys since Equistone acquired a stake in the company in 2015 from LBO France, deploying capital from Equistone Partners Europe Fund IV.

Company
Founded in 1968 and headquartered in Porto, Storax is a provider of industrial racking, shelving systems and mobile and silo applications. The company has activities in Portugal, Belgium, France and the UK. In 2017, Storax generated revenues of approximately €80m.

People
Equistone Partners Europe –  Thierry Lardinois, Grégoire Schlumberger (partners).

Advisers
Equity – Goodwin (legal, tax); Eight Advisory (financial due diligence); JP Morgan (corporate finance).

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