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PRINT THIS PAGE Apax Partners France to sell French Frans Bonhomme to Cinven in €900m deal21/10/2005. Source: AltAssets. 
 Apax Partners France and its co-investors Barclays Private Equity, Crédit Agricole Private Equity, Goldman Sachs Mezzanine Partners and Quilvest have agreed to sell Frans Bonhomme to Cinven for a reported enterprise value of €900m.
The French company Frans Bonhomme is a distributor of PVC pipes and pipe fittings. It had a turnover of €538m in 2004.
Patrick de Giovanni, partner at Apax Partners, said, 'Frans Bonhomme is one of our greatest success stories. We are proud we have contributed to the company's exceptionally fast development over the last two years. Frans Bonhomme has succeeded in achieving its ambitious programme of outlet openings in France and in launching an international expansion, thanks to a renewed management team led by Michel Pic and to the involvement and motivation of its employees.'
Nicolas Paulmier, a partner at Cinven, added, 'Frans Bonhomme is a company whose operations, management and markets we have come to know well. It has a strong position in its French domestic market where there continues to be good potential for the further expansion of its outlets and product ranges. Cinven looks forward to working with the management team in taking Frans Bonhomme forward into its next phase of development.'
Apax Partners pursues a balanced equity portfolio strategy, investing in late venture, growth capital and buy-outs. Recent investments in France include retail chains Heytens and Mondial Tissus, Séchilienne-Sidec and CoreValve.
Cinven operates throughout Europe, with offices in London, Frankfurt and Paris. The firm closed its latest fund on €4.4bn in 2002.
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