Kiloutou sells control
Sagard, an investment group that owns, Le groupe Moniteur, the major French construction publisher, has purchased a majority stake in Kiloutou, the second largest rental company in France.
Franky Mulliez, the founder and owner of Kiloutou has sold 51 percent of the business to Sagard for €170 million. Mulliez, who created Kiloutou in 1980, has retained a 34 percent stake while 30 members of the management team have increased their holding from nine to 15%.
”The decision that we have taken to associate ourselves with Sagard has been motivated by the need to find the means to accelerate our growth both organically and via external acquisition while preserving the strong business culture of our group which is one of our principle strengths” said Mulliez.
Kiloutou has 147 locations in France but plans to double that number in the next five years. The company recently purchased Hugon as a first step in this direction.
Kiloutou has revenues in the region of €190 million with 1,500 employees