Electra Fleming & Associis, the Paris office of the UK-based private equity group, in July announced the buyout of Gaz Liquifie Industrie (GLI) from Groupe UNI. The acquisition consideration was not disclosed.
GLI is the leading European manufacturer of bottles and tanks for liquid petroleum gas. Headquartered in Paris, the company has three industrial subsidiaries in France – Citergaz, Somec and Schneider Industries – together with another Schneider industries operation in Scotland. The group has customers, mostly liquid petroleum gas distributors and major chemicals firms, in 52 countries.
Electra Fleming invested FFr 70 million (ecu 10.6 million) in the buyout and also arranged the debt and mezzanine components of the transaction.