FRANCE - AFIC study explains positive social impact of LBOs

According to the study, French LBO-backed companies grow by an average of 5.6% annually, against 2.5% for the country's top 50 businesses, and 0.7% for all companies.

73% of turnover increase in LBO-backed companies was linked to an increase in staff numbers, with 27% being attributed to increases in productivity.

Salaries in LBO-backed businesses were also said to increase faster, and staff are reportedly less likely to be absent from work. Furthermore the study showed private equity had little or no impact on working hours or on the likelihood of promotion.

The 20% of LBO-backed businesses which opened their capital to non-executive staff reportedly saw better performance than the average LBO-backed company.

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