European buyout house Equistone Partners has completed the acquisition of European aluminium gates manufacturer Gardengate.
The firm said Gardengate had achieved robust and consistent year-on-year growth since launching in 1997. It is on track to achieve €90m turnover this year, representing an 18% CAGR over the past five years. While 85% of the company’s clients is its developed network of French DIY players, it also has sales in Benelux, Germany and the UK.
EQuistone added that it will expand Gardengate’s business in Benelux, Germany and the UK, widen its product range and optimise its growing online presence.
Thierry Lardinois, Partner at Equistone, said: “Gardengate is a highly successful European industrial company that we have been able to evaluate thanks to our previous experience in that sector. We look forward to backing the management team and supporting the group as it continues its impressive growth journey in France and abroad, as the company works towards becoming a European leader.”
Equistone Partners raised €2.8bn for its Fund VI in 2018. Portfolio companies include children products brand Vertbaudet, IT consultancy Timetoact, and pharmaceutical wholesaler Omnicare.
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