Apax Partners Exits Socamel-Rescaset –

Apax Partners has sold its 77.33% stake in French company Socamel-Rescaset to Groupe Guillin. Both companies, which are listed on Paris’s Second Marche, manufacture packaging for the food industry. Groupe Guillin now owns 96.24% of Socamel-Rescaset.

Apax first became involved with Socamel-Rescaset in 1990 when it bought HMI, the group’s parent company. Socamel-Rescaset was spun-out and listed in November 1994, when Apax sold a 25% stake in the company. The price of the shares have more than doubled since the IPO, meaning Apax has made 2.2 times the money it originally invested.