FRANCE - Activa Capital backs MBO of Créal

Activa Capital Fund FCPR has purchased a majority stake in Créal, a leading French manufacturer of aluminium windows from its founder, Claude Caprini, and Siparex SPF III Middle Market, a fund managed by Sigefi Private Equity. Founded in 1992 by Claude Caprini, Créal has positioned itself as a leading supplier of aluminium windows essentially for the growing housing renovation market in France. With an annual turnover of EUR 46m, Créal has a dominant position in Southern France supplying over 1,000 independent building contractors. Within the window market, aluminium windows have enjoyed ten years of growth, seizing market share from the traditional wood and PVC windows.