Paris-based buyouts house Argos Soditic has acquired a majority stake in MISAPOR, a European glass granulate producer for the construction market through a management buyout (MBO).
Although details of the transaction were not disclosed, Argos Soditic typically takes majority stakes of €10-50m in companies with revenues of €20-400m. Misapor plans to use its new funding to build production facilities in new countries.
Located in Surava, Switzerland, Misapor manufactures foam glass granulate that is used as a building material. The Swiss company is said to have 77% of the market share in Switzerland and 54% in Germany.
As part of the acquisition, old shareholders had the chance to cash out or reinvest in the transaction. It was funded by re-investing shareholders, the management team and Argos Soditic funds with existing debt from Graubundner Kantonalbank.