The Paris Private Equity team advised Equistone Partners Europe on its definitive agreement to sell Averys, Europe's leading manufacturer of warehousing and storage solutions for warehouses, to Blackstone. With this new partnership, Averys plans to continue its development by expanding its product offering and targeting new markets. Completion of the transaction is expected in the third quarter of 2018 and is subject to the customary social procedures and approval by the relevant antitrust authorities. Financial terms were not disclosed.
Equistone is an independent investment company wholly owned by its executives. The company is one of Europe's leading investors in mid-market buyback operations, with a solid and consistent history spanning more than 30 years, with more than 400 transactions completed during 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 information on the acquisition, please read the press release.