Barclays Private Equity Will Acquire Majority Stake in Railway Fittings Provider, France

Barclays Private Equity France has acquired a majority stake in Compin Group, a European provider of railway fittings and front ends. Financial details of the transaction were not disclosed. Compin Group was founded in 2005 and was originally financed by

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Barclays Private Equity France has acquired a majority stake in Compin Group, a European provider of railway fittings and front-ends. Financial details of the transaction were not disclosed.

Compin Group was founded in 2005 and was originally financed by LBO France. Following the new deal, LBO France will become a minority shareholder in the company.

“We were attracted by Compin Group’s robust position in the railway market and its strong order book,” says Guillaume Jacqueau, managing director at Barclays Private Equity France. “The company has ambitious growth plans in the UK – the third largest railway market in Europe – and we are looking forward to working with Compin Group’s management team to achieve these goals.”

Compin UK, part of the Compin Group, is a UK producer of train interiors and driver desks. Part of the Compin Group’s growth strategy is to open a Proximity Assembly Centre (PAC) in the UK to allow for the production of seats and front applications, a move that reflects a similar successful strategy in France, the firm said in a statement.

Barclays Private Equity France is being backed in the deal by BNP Paribas, Socit Gnrale, LCL, Banque Palatine, BESV and the Crdit Agricole group.

Compin Group, founded in 1902 as Compin, was originally a designer and manufacturer of train seats. The company has since expanded into other interior railway car fittings and front-ends. It now turns over €114 million (2007/2008) and employs 1,025 employees.

“The investment by Barclays Private Equity France will enable us to remain focused on our plans to further develop solutions to our customers’ needs, whether through product design and innovation, improvement of production capabilities or refinement of logistics and local services,” says Marc Granger, chief executive of Compin Group.

Barclays Private Equity focuses on mid-market buy-outs in the UK and across Europe, with more than 350 transactions to its name, typically ranging in size from €25 million to €250 million. In the UK, it has a sector focus on consumer and travel, financial services, support services and healthcare.

D.C.

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