LBO France small cap fund more than 70% invested after latest pair of deals


paris_franceEuropean private equity firm LBO France has completed a pair of deals using its latest small cap fund.

The firm tapped Hexagone III to pick up a 58 per cent stake in high-end audio business Fine Sounds, and also to buy 72.8 per cent of limestone quarry operator Vaglio.

Fine Sounds was created in Italy in 2007 from the Sonus Faber brand, which specialises in high-end speakers, and had sales of about €60m last year.

Vaglio operates the Jaumont limestone quarry near Metz in France, and had sales of about €19m in 2013.

Hexagone III, which LBO France closed on €154m in 2010, is now more than 70 per cent invested across seven companies.

Philippe Guérin, director of Hexagone, said Fine Sounds benefits from strong growth through the synergies developed between its different brands across the world.

“We will work to accelerate that growth, through the offering of new products with revisited design.”

His compatriot Arthur Bernardin, added, “We are happy to accompany the management of Vaglio along two strategic axes: the internationalisation of the group in Luxembourg and the preparation of new high value-added products, like washed sand.

“Additionally, the asset has important reserves in the context of a rarefaction of resources and offers potential for improved operational performance.”

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