ABN AMRO Capital has backed French door manufacturer Bel’M in a tertiary buyout from Atria Capital. ABN AMRO Capital invested €14, SODERO Participation, an existing shareholder of Bel’M, invested €1m and senior debt was provided by Banque CIO.
Atria Capital acquired a 71% stake when it backed the management team in an LBO led by Yann Rolland in June 2000. 3i was the vendor and the investor in the original buyout. Financial details of the transaction were undisclosed.
Bel’M is a door manufacturer for the private housing market. Its product offering consists of hardwood, aluminium, combined aluminium and wood and steel doors. Bel’M growth prospects centre around three core areas: increased production efficiencies following significant investments in plant, machinery and equipment in its three dedicated sites, and innovative product development through extensive investment in research and design. A new range of doors are coming to the market shortly.
Turnover for the business in 2005 is estimated to be around €55.5m. The company currently has 430 employees.