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Omnes Capital exits mining equipment maker Melkonian

14 Feb 2014

mining_lrgFrench private equity firm Omnes Capital has sold its stake in mining and underground works equipment maker Melkonian Group.

Omnes picked up an equity interest in the business as part of an owner buyout alongside the Melkonian family in 2008.

The company has experienced a 60 per cent increase in turnover in that period, and boosted its sales staff by more than 50 per cent between 2008 and 2012.

Part of its growth was down to development of new products dedicated to the extraction of vein deposits and the opening of new subsidiaries in Niger and Burkina-Faso.

A statement from company co-presidents Geneviève, Marc and Christophe Melkonian said, “The support we received from Omnes Capital was in all points essential.

“Both because they have given us a total confidence in all our decisions, even during the severe financial crisis that followed their arrival in the capital, and because they gave us advice and trust that allowed us to achieve a performance of over 60 per cent of sales and operating income between 2008 and 2012.

“We are the second generation of entrepreneurs in the family-owned group and we will never forget the Omnes Capital-Melkonian Group partnership.”

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