ABN AMRO Capital, the private equity business of ABN AMRO, has completed the acquisition of Outinord, a designer, manufacturer and distributor of steel formworks – moulds for concrete for the construction industry – from Siparex and SPEF LBO.
Outinord is the pioneer of steel formworks solutions for the construction industry. The company is the market leader in France and is expanding abroad, mainly in the USA, Mexico and the Middle-East. Further expansion is planned in Asia and Eastern Europe in the near future. ABN Amro says this expansion is the result of significant efficiency improvements in concrete constructions created by Outinord engineering, methods and equipment.
Outinord achieved a Euros 50 million turnover in 2005. As a result of the buy-out, ABN AMRO Capital will become the majority shareholder, with the company’s management team re-investing a substantial part of their sale proceeds. BNP Paribas and Calyon will provide acquisition financing. Bruno Houette and Olivier Nemsguern co-ordinated the investment on behalf of ABN AMRO Capital France and will join the board of Outinord as non-executive directors.
“Outinord is the kind of business we like to invest in – it operates in a very profitable niche market, has a proven and successful management team and the opportunity to expand further internationally,” says Herv Claquin, Managing Partner of ABN AMRO Capital’s French buyout team.
Outinord’s CEO, Guy Martinache, describes the ABN Amro investment as “a major vote of confidence for everyone involved in taking the business forward. Together, we are embarking on an exciting new phase in the company’s history.”
Over the last 12 months, ABN AMRO Capital has completed 15 European buyouts with an aggregated deal value of Euros 2.3 billion. It has also realised 13 exits.