07.04.2011

Kiloutou changes hands

Sagard Private Equity has sold its stake in French rental company Kiloutou to PAI partners another private equity firm, in a deal that values the business at €535 million.

PAI holds 51 percent of the business after the transaction, while Sagard will remain as a minority investor and will join other existing shareholders, including founder Franky Mulliez and members of the management team which will investing additional funds alongside the new owner.

Sagard funded the €170 million buyout of Kiloutou from Mulliez in 2005. The company operates from 260 branches across France, and had revenues of €292 million with an EBITDA of €76 million in 2010, compared to €188 million and €43 million when Sagard acquired the business six years ago.

Kiloutou chief executive Xavier du Boÿs and the management team will continue to manage the company and will step up the expansion programme.