Carlyle-backed Applus buys EDI

The bolt-on continues an acquisitive growth strategy for the company, which has spanned eight countries and included the €105m acquisition of Velosi in 2010. In 2007, the firm earmarked €450m to fund strategic acquisitions. 

EDI specialises in automotive design and engineering. The bolt-on consolidates the wider firm's position in China and allows Applus Idiada, a division specialising in services to the automotive sector, to expand support for its local client base in China. 

Previous funding
In 2005, Sociedad de Promoción y Participación Empresarial Caja Madrid, the private equity arm of Caja Madrid, injected €133m into Applus in exchange for a 19% stake in the firm, a deal which saw Grupo Agbar and Unión Fenosa reduce their shareholding in the firm.

Carlyle acquired Applus in 2007 in a €1.48bn buyout. Later in the year, Investindustrial bought a 5% stake in the firm in a €20m deal. The company is the only minority investment in Investindustrial's portfolio.

Company
Founded in 1996 and based in Barcelona, Applus specialises in testing, inspection, certification and technological services. The company provides services to 14 industries across five continents. 

Applus recently made a collaboration agreement with the Chinese state entity that services the country's automotive industry, CATARC.

Applus generated revenues of €1.2bn in 2011. The firm operates in 65 countries and employs more than 17,000 people globally.

People
Pedro De Esteban is managing director at Carlyle's Barcelona office. Andrea Bonomi is founder of Investindustrial. Fernando Basabe is CEO of Applus. 

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