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FRANCE - Siparex leads investment in OneDirect

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The fund Siparex Midcap and the fund SES Iberian I, which is co-managed by the Siparex and Portugal's Espírito Santo group, have invested more than EUR 3m for a minority ownership interest in OneDirect, a telephone hardware distributor.

OneDirect has had annual growth of more than 25% for five years and double-digit profitability. It expects to post consolidated sales of over EUR 20m this year.

The company sells, prepares, and ships more than 80,000 orders a year to over 50,000 customers in Europe from its head office in Saint-Estève (Pyrénées Orientales, France) and sites in Barcelona (Spain), opened in 2001, and Milan (Italy), opened early in 2006. The Barcelona and Milan offices handle marketing, advisory, and sales to local customers.

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