JSM Financial: Private equity firm Carlyle Group makes bid for heat exchange manufacturer Gianonni.

The Carlyle Group to take a 65 percent stake in the French firm.
June 7, 2010 - PRLog -- Recent reports available to JSM Financial indicate that the private equity giant Carlyle Group has announced that it has made a fully-financed bid for the French heat exchanger manufacturer Giannoni.

Under the deal, Carlyle will purchase a 65 percent stake in the company which produces heat exchangers for energy efficient boilers, while Giannoni’s co-founder Joseph Le Mer will retain a 35 percent stake and stay on as CEO.

The latest bid values the French firm which was established in 1993 and produces stainless steel heat exchangers for commercial and residential boiler manufacturers in Europe and North America at $585.1 million, JSM Financial was reliably informed.

Giannoni’s products are designed to lessen energy usage and costs, with the company having introduced a number of new products and patents this year.

“We are confident in the continued high growth potential of the company due to opportunities in growing markets, such as Eastern Europe and Russia, and new developments," JSM Financial  believes the Carlyle Groups managing direct Benoit Colas said in a recent statement.

In April of this year an auction for Giannoni was called off after offers failed to meet seller expectations. Shortly after the auction Carlyle Group was granted exclusivity.

# # #

JSM Financial is an independent broker focused on the realization of superior returns from seed stage and early-stage equity investment and active partnerships with exceptional entrepreneurs building market-leading technology companies.
JSM Financial News
Most Viewed
Daily News

Like PRLog?
Click to Share