The Paris Private Equity team advised Averys, a leading European manufacturer of industrial storage systems, racking and metal furniture backed by Equistone Partners Europe since 2015, on its acquisition of Storax from Ramada Aços Group SA. The acquisition provides Averys with a complementary industrial base in southern Europe to support its existing customers. The deal also offers additional growth prospects for automated products such as shuttles, mobiles and silos that benefit from Storax Group’s excellent brand image and renowned technological expertise.
This acquisition continues Averys’ strategy of combining significant organic growth with targeted acquisitions in order to expand its product offering and reinforce its commercial and industrial networks. The transaction remains subject to the approval of the European Competition Authorities and is expected to be completed in Q2 2018.
Equistone is an independent investment firm wholly owned and managed by its executives. The company is one of Europe’s leading investors in mid-market buyouts with a strong, consistent track record spanning over 30 years, with more than 400 transactions completed in this period.
Averys, headquartered in Paris, is the European leader in industrial racking solutions with several brands, generating a total revenue of approximately €500 million in 2017.
The Goodwin team was led by partner Thomas Maitrejean.
For additional details on the acquisition, please read the press release.