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Charterhouse to sell €1.5bn controlling stake in France’s Fives

6 Jun 2012

UK-based private equity firm Charterhouse Capital Partners plans to sell its controlling stake in French engineering company Fives for about €1.5bn, it is understood.

Fellow buyout houses AXA Private Equity and PAI Partners are believed to be interested in the company, which supplies process equipment, production lines and plant facilities to industrial companies around the globe.

Reuters reported five shareholding executives from the company could also team up with a buyout firm to pick up the stake.

Fives, which was known as Fives Lille until 2007, had earnings before interest, taxes, depreciation and amortization of €99m last year, up 15 per cent from the previous year, according to the company’s website.

In March it emerged Charterhouse was in talks with a boutique investment bank over the possible exit of Scottish energy consultancy firm Wood Mackenzie, in a sale that was expected to fetch around £1bn.

Charterhouse, which aims to invest in large European buy-outs, has made more than 135 transactions worth in excess of €50bnm and realised 86% of those investments.

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