Downer & Company Assists Bridgepoint on Sale of Hermès Métal Yudigar (HMY) to Sagard
Marks the firm's second completed divestiture for Bridgepoint in two months
BOSTON, February 2, 2005 - Downer & Company, LLC, an international investment banking firm specializing in middle-market cross-border acquisitions and divestitures, is pleased to announce that Bridgepoint, a leading European Private Equity firm, has sold Hermès Métal Yudigar (HMY) to Sagard of France. Downer & Company acted as sole financial advisor to Bridgepoint on this transaction which closed on January 27, 2005. The transaction value was undisclosed.
HMY is the European leader in the design, production and supply of display shelving and systems to the food and non-food retail sectors. HMY, backed by Bridgepoint since April 2000, has estimated turnover of €300m. The HMY management team will reinvest in the new company and will have a stake in excess of 20%.
This transaction marks the first deal completed by Downer & Company in 2005 and is the second deal the firm has completed for Bridgepoint in the past two months. Downer & Company also acted as co-advisor to Bridgepoint on the December 2004 sale of ALcontrol Laboratories, the Dutch provider of laboratory services for food and environmental applications, to Candover Partners.
Downer & Company continues to create value consistently for its private equity clients. “Leading businesses like HMY need to be exposed to buyers from around the globe. In this case, Sagard, though ‘local,’ was able to see the greatest value in the group’s future,” said Ashley Rountree, Managing Director – Europe, with Downer & Company. The sale of HMY is the 6th deal Downer & Company has transacted with a Private Equity partner in 12 months.
The HMY deal was staffed by an international team from the firm's Paris and Boston offices. In 2004, the firm represented clients and transacted with prospects and targets in no fewer than nine countries including the US, UK, Ireland, Germany, Norway and France.
Bridgepoint is a leading provider of private equity with a 25-year track record of investing in businesses that will achieve long-term capital growth. Bridgepoint acquires companies with management and arranges and leads buy-outs or provides further financial resources to help established companies grow. For more information, please visit www.bridgepoint-capital.com.
About Downer & Company
Since its inception in 1975, Downer & Company, LLC, has gained distinction as a leading middle-market M&A firm focused on the execution of acquisition and divestiture mandates for international and domestic corporations and private equity firms. Downer & Company is headquartered in Boston, Massachusetts, and has offices in Paris, Dublin, Frankfurt and Sydney. Downer & Company received an award for transacting the “International Cross-Border Deal of 2004” and was recognized as the top Investment Banking Firm of 2003 by The Mergers & Acquisitions Advisor. Downer & Company's corporate headquarters are located at 60 State Street, Boston, MA 02109. For further information, visit www.downer.com.