UNQUOTE

FRANCE - IPO and Siparex build neon-sign empire

  • Julien
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Visotec, a neon light manufacturer acquired by an IPO-led syndicate in a 2003 secondary buyout, has integrated Poland-based Socha wihin its group. Visotec had held a 20% stake in Socha since 2004, and had already shared a part of its manufacturing process with its Central-European partner. The acquisition values Socha at over EUR 10m.

Following the deal, the group’s turnover is expected to increase from EUR 54m in 2005, to EUR 65m this year. The group also has partnerships in the UK (ASG), in Italy (Progim, 20% of which is held by Visotec) and in Russia (Evroznak).

In February 2003, IPO France then led a new syndicate, comprising of Financière Armen, Ouest Croissance and Siparex, to back the secondary buyout of the business. IPO and Siparex have each held 23.2% equity stakes since this transaction, while Ouest Croissance has a 4.3% stake.

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