FRANCE - 21 Centrale Partners divests Averys

21 Centrale Partners initially acquired Averys in 2005 in a public-to-private deal alongside co-investors Cogepa and Synergie Finance. The deal valued the company at EUR 43.4m.

Paris-based Averys, which specialises in industrial storage equipment, was founded in 1985 under the name GPRI, gaining its current appellation in 2004. The company owns seven multi-brand businesses and has 800 employees based in factories in France, Germany, Poland and more recently Turkey following a bolt-on acquisition completed in 2007. The group registered EUR 200m global turnover last year and has sales networks in all European countries.

Since 21 Capital Partners entered Averys turnover has increased 50% while the EBITDA has doubled.

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