23.01.2013

New investor for ATN

French aerial lift manufacturer ATN has received a €3 million capital injection from Paris based private equity and investment firm Entrepreneur Venture.

ATN says that the buy-in/investment will allow the company to diversify its product range and increase production capacity.
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ATN's Zebra 12 boom lift

ATN chief executive Lionel Buzet said: "Our various design office, manufacturing, and sales teams have already seen the results of their efforts through the confidence afforded by our increasingly large customer base. The investment by Entrepreneur Venture is a further demonstration of this trust. This investment is a necessary step to allow the company to acquire a new dimension and consolidate its position as the reference in the boom lift manufacturing market."

Bruno Jacquot who managed the investment at Entrepreneur Venture adds: "We were convinced by ATN’s experience, dynamism and technical team as well as the prospects for market growth. This investment is completely rooted in our commitment to support high potential industrial companies."

ATN’s original investor was Daniel Duclos who set the business up to produce mast booms. The manufacturer has expended in recent years and now builds articulated booms and Rough Terrain scissor lifts, at the same time the customer base has grown to include major rental companies such as Loxam, Lavendon, Hertz Equipment and SALTI as well as Access Industrie.

The company recently moved into a new 10,000 square metre facility in Tonneins, South West France.

Entrepreneur Venture is an AMF authorised fund management company, specialising in unlisted securities, owned and run by entrepreneurs. It holds capital investments in more than 80 small to medium sized companies and manages two institutional venture capital mutual funds, a venture capital mutual fund available to individuals and 19 Local Investment Funds covering 12 of France’s 22 metropolitan areas. Total assets under management exceed € 300 million.

Vertikal Comment

ATN has been growing organically on a steady basis over the past few years and its products can now be found within the fleets of several international rental companies.

The company has been keen to step up the pace of growth while also diversifying its ownership base. Entrepreneur Venture’s portfolio is extremely diverse in terms of markets, but quite consistent in terms of company size and organisation, preferring smaller entrepreneurial businesses with good growth potential.

This is a good move for ATN for many reasons, while the timing is likely to prove beneficial for the investor as well. The pressure is now on ATN to invest the funds in great new products along with distribution and brand building.