FRANCE - Financière Agache Private Equity takes 37% of Paprec
Financière Agache Private Equity, part of Groupe Arnault, has taken a 37.74% stake in recycling business Paprec for EUR 100m. The founder and CEO Jean-Luc Petithuguenin has rolled over a 38% holding through holding company JLPP.
The transaction will take place in two phases, with Financière Agache subscribing to an initial EUR 75m capital increase followed by the purchase of EUR 25m of the existing stake from minority shareholders. A EUR 150m debt package was also included in the deal in order to refinance the current EUR 75m debt and support the company’s development plans.
La Courneuve-based Paprec is a recycling business that focuses on paper, plastics, industrial waste and wood, amongst other materials. The company employs 2000 people and generated a turnover of EUR 320m in 2007.
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