Bryan, Garnier & Co advises Astorg Partners on acquisition of Majority Stake in Metrologic Group, alongside Management and Founder
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Paris, May 5th, 2015 – Bryan, Garnier & Co advises Astorg Partners on the buyout of Carlyle’s majority stake in Metrologic. This is the fourth transaction with Metrologic Group advised by Bryan Garnier, following the “Take-Private” in 2012, sale of founder’s majority stake to Carlyle in 2011, and acquisition of assets from IBM in 2009.
Astorg Partners (“Astorg”), an independent private equity fund specializing in European mid-market buyouts, has acquired a majority stake in Metrologic Group from Carlyle Europe Technology Partners (CETP). Metrologic founder Philippe Cimadomo and the management team will re-invest significantly alongside Astorg Partners. Current CEO Bertrand Gili and his team will continue to run and develop the company.
This is the fourth transaction advised by Bryan Garnier around Metrologic, following:
– The acquisition of 3D inspection software assets from IBM/Matra Data Vision in 2009
– The sale of the founding shareholder’s 60% stake in the business to the Carlyle Group in 2011, Metrologic being listed at the time, with an implied market capitalization of 152m€
– The delisting from Euronext through a tender offer and squeeze-out process in 2012
This transaction further illustrates Bryan Garnier’s positioning as a long term partner to growth companies, with deep sector focus and broad transactional scope.
Olivier Beaudouin, Partner at Bryan, Garnier & Co, stated, “We are very pleased to advise Astorg Partners, a reference European mid-market buyout investor, on this transaction. Metrologic is an impressive innovation company, a global market leader in 3D inspection software, with strong market vision and execution. Bryan Garnier has been a historical advisor to Metrologic, and by bringing in Astorg as a new majority shareholder in the company, we intend to continue to support the company in the longer term.”
Stéphane Epin, Director at Astorg Partners, commented: “We had identified Metrologic as a unique Technical Software asset with a global leadership position in its niche 3D inspection segment. Bryan Garnier’s history with the company, deep knowledge of the business and Technical Software ecosystem, as well as trusted relationship with the founder and management team have truly been instrumental in the execution and conclusion of this transaction. We are excited to invest in Metrologic for its next phase of development and eager to support a great team of ambitious managers”.
Bryan Garnier acted as exclusive financial advisor to Astorg Partners.
For more information, please contact:
Olivier Beaudouin, Partner
+33 1 56 68 75 35 – obeaudouin@bryangarnier.com
Vincent Gasné, Director
+33 1 56 68 75 93 – vgasne@bryangarnier.com
Jonathan Foiret-Hurbin, Vice President
+33 1 56 68 75 52 – jfoirethurbin@bryangarnier.com
About Metrologic Group
Metrologic Group specializes in the design and manufacture of innovative leading-edge 3D inspection software and electronics which run measurement machines used for dimensional control notably in the automotive, aeronautics, transport and medical sectors. Headquartered in Meylan near Grenoble, Metrologic has subsidiaries in the USA, Germany, Spain, Italy, Brazil and China and is backed by an international sales network of distributors located in over 30 countries. With over thirty years of experience, Metrologic provides its customers with high performing 3D measuring software, renowned for its superior degree of accuracy, ease of use, processing speed and for compatibility with all measurement machines available on the market.
About Astorg Partners
Astorg is an independent private equity fund management company, specializing in European mid-market buyouts, with total funds under management of over €2 billion. Astorg seeks to partner with successful and entrepreneurial management teams, to acquire businesses – very often family-owned – with attractive growth prospects, which Astorg supports through the provision of experienced governance and adequate capital. Astorg enjoys a distinct entrepreneurial culture, a long-term shareholder perspective, and a lean decision-making body enhancing its reactivity. Although a multi-sector investor, Astorg has developed solid industry expertise in healthcare, business-to-business professional services and niche industrial companies selling differentiated, often technology-driven, products. Astorg has offices in Paris, London and Luxembourg; plus Senior Advisors based in Holland, Switzerland and Germany.