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FRANCE – LBO France backs Tiama's acquisition of SGCC

  • Francois Rowell
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LBO France has backed a secondary LMBO deal in which its portfolio company Tiama Group acquired SGCC Group. The deal saw Atria Capital Partners exit its 90% share in SGCC. SGCC’s entire management team led by Luc Boulant joined Tiama’s management team led by Edouard Marienbach to participate in the buyout. Around 75% of employees in the merged company will hold a share representing 30% of the new enterprise the remainder of which will be held by LBO France. The senior and mezzanine debt was provided by ABN AMRO.

LBO France initially acquired Tiama with its management in a secondary LBO in July 2007 while Atria acquired SGCC in an LBO deal in March 2005. Both companies specialise in the glass-based products industry. SGCC provides glass container products for large industrial glass conglomerates while Tiama provides inspection systems for glass containers. SGCC has a turnover of EUR 40m and has about 80 employees while Tiama recorded EUR 70m for 2007 and has 170 staff.
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