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Carlyle, PAI Partners join forces for Custom Sensors & Technologies buyout

7 Apr 2014

france french parisThe Carlyle Group has teamed up with European private equity firm PAI Partners to buy Custom Sensors & Technologies from Schneider Electric.

The company, which focuses on “mission critical” sensing products, was launched by Schneider in 2006.

Carlyle tapped its Europe Partners V fund for the deal, while PAI made its first transaction using its Europe VI vehicle.

The offer is subject to the consultation process of the relevant “Comités d’entreprise” French employee works councils.

Carlyle Europe Partners managing director Jonathan Zafrani said, “CST is a high-quality business with an excellent reputation in the industry.

“We see this as a great opportunity to create further value in the company leveraging Carlyle Europe Partners’ significant experience in managing complex carve-out transactions for industrial diversified businesses and Carlyle’s significant track record in partnerships with large corporates, especially in France.

“We also intend to use the OneCarlyle network to provide access to the expertise gained from Carlyle’s extensive knowledge and investment experience in the aerospace as well as industrial sectors.”

PAI partner Laurent Rivoire added, “This transaction is the result of many years of hard work, and constant dialog with Schneider Electric and CST.

“CST is a well-run, global company, positioned in an attractive market place.”

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