Argos Soditic picks up valve maker Valco Group France from HitecVision


news_gaspipeline_lrgFrench private equity firm Argos Soditic has bought industrial valve maker Valco Group France through an MBO from Norwegian buyout house HitecVision.

The company, which works in the energy and chemicals sectors, was founded in 1949 and had sales of €45m last year.

HitecVision launched Valco in 2009 after merging the Norwegian and French valve operations of the former Flowtech division of Technor Group, which it bought three years earlier.

Argos president Gilles Mougenot said, “VGF is one of the leaders in the industrial valves market, particularly in the energy sector, largely due to a portfolio of prestigious brands, solid historical relations with big Asian, Middle-Eastern and European clients as well as a renowned industrial savoir-faire.

“We are delighted to work alongside Valco Group France and its excellent management team in a new phase of ambitious expansion.”

Last November Argos backed the management buyout of biotechnology company Cisbio Bioassays.

The deal saw the company establish itself as independent, spinning out from Belgian healthcare group IBA.

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