Financial details of the deal were not disclosed, although Equistone says it aims to invest between €25m and €125m in businesses with enterprise values of €50m to €300m.
Equistone said the deal was part of a secondary MBO alongside CM-CIC Capital Finance, which bought into the company in 2007, and the current C&A management team.
The Group employs 350 people across two French production sites, and generated a turnover of €120m last year.
Equistone managing partner Guillaume Jacqueau said, “Charles & Alice is a truly innovative business built around strong values.
“We are pleased to be able to help grow such an innovative entrepreneurial business, which has pursued national and international growth whilst still supporting the local economy.
“This is the twelfth investment from EPEF IV, and perfectly illustrates our commitment to helping quality management teams achieve success.”
CM-CIC Capital director Frédéric Plas added, “It has been six years since we initially invested in Charles & Alice, and in that time Thierry and the management have grown the business substantially.
“Seizing opportunities for growth and reaching out to new investors have been our strategic priorities, in order to create the best possible future opportunity across their markets.”
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