Pechel reaches second close

Established in 1995 as a private investment vehicle for the Worms, Agnelli and Arnault families, Pechel is an independent private equity firm that focuses on investments in small to mid-sized French companies.

Hélène Ploix, chairman and managing director, said: “Our investors have been very happy with our performance, and they have demonstrated this with their ongoing support. We now look forward to completing the fundraising and welcoming selected new Limited Partners into the fund.”

Investors in the fund to date include international pension funds, fund-of-funds and family offices.

Pechel Industries III will continue the successful strategy of the previous 2 funds, investing in development capital and LBO transactions in French SMEs and the fund will target equity commitments of €7m-€20m.

The fund has completed its first investment in the French telecommunications and cable operator Completel. This investment is the continuation of an industry roll-up strategy started in 2002 with an investment in Altice, and subsequently an investment in Numericable in 2005, which has already generated substantial returns.

Pechel Industries III was launched in September 2007. Pechel is advised by Matrix Private Funds Group. For more on the French market see our France Geo spotlight in the April issue of EVCJ.