The deal is CGI’s first major investment in European manufacturing operations and marks a step towards the company’s aim to become the leading independent manufacturer of fire glass globally, said CGI managing director David Jolliffe.
CGI will now operate the business as CGI France SA – a wholly owned subsidiary and separate trading entity within the CGI Group of companies, which will continue to trade under the Pyroguard brand.
NVM Private Equity supported the original £10m management buyout of CGI back in 1998 and has recapitalised the business twice more since that time.
The firm has also provided additional funding for the Interver acquisition.
Significant projects completed by CGI include the installation of fire resistant glass at Manchester Airport, Heathrow Terminal 5, Hong Kong Airport and the Houses of Parliament.
Christophe Guillot, Chairman of CGI International, was appointed in 2008 as part of the recapitalisation to help lead the company’s European expansion.
He said, “The profile of Interver SA is an excellent fit with CGI International and we believe it will become a great asset to the group.”
Clive Austin, the director of NVM Private Equity who manages the investment for the firm, added, “CGI’s acquisition of Interver is of strategic importance to the group.
“The deal will enhance CGI’s product portfolio, bring access to new markets and increase the speed at which the company can bring new products to market.
“It has the power to transform the business and we are delighted to provide further support to make it happen.”
The deal is the third acquisition completed in the North of England by NVM’s portfolio over the past two weeks.
Kerridge Commercial Systems acquired MRP specialist Datawright, while Wear Inns acquired additional pubs from the Orchid Group.
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