Astorg Partners to Acquire Majority Stake in Metrologic Group along with Management team and Founder from Carlyle
Grenoble, France, April 23, 2015 - Astorg Partners (“Astorg”), an independent private equity fund management company specializing in European mid-market buyouts, has entered into an agreement to acquire a majority stake in Metrologic Group from Carlyle Europe Technology Partners (CETP), a pan-European buyout fund focusing on small- to mid-cap investments in telecoms, media and technology.
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.
Founded in 1980 near Grenoble, Metrologic develops state-of-the-art software solutions that drive 3D measurement machines used for high precision testing in industries such as automotive, aeronautics, energy and many other areas.
The company offers a “universal” metrology software compatible with every kind of measuring machines available and delivering the highest level of performance, ease-of-use and processing speed. Metrologic solutions are used by +4,000 customers in over 40 countries.
Bertrand Gili, President of Metrologic Group, stated: “Metrologic’s visionary approach consisting of systematic on-going innovation, strong market anticipation and a deeply-rooted appetite for excellence has earned us the leadership on universal 3D measuring software solutions worldwide. I am thrilled to welcome our new partner Astorg as we are growing towards our latest endeavour: achieving leadership in the inline/robot 3D measurements.”
Philippe Cimadomo, founder of Metrologic, said: “Metrologic is a wonderful success-story that began more than 35 years ago. The company continues to grow with new effective technology solutions whose development started several years ago. I have no doubts that with the help and support of Astorg, Metrologic will strengthen its position worlwide.”
Vladimir Lasocki, Managing Director of the advisory team to CETP commented: “Since CETP invested in the company in 2011 we have been focused on supporting the management team through our understanding and expertise in the technology sector. We wish them well for the future”.
Stéphane Epin, Director at Astorg, added: “We are excited to invest in Metrologic for its next phase of development and eager to support a great team of ambitious managers. After Linxens, Kerneos, Megadyne and Sebia, all global leaders of their industrial niche markets, Astorg is pleased to back a new world-class, innovation leader in the B2B software industry.”
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. Visit www.astorg-partners.com for more information.
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, aeronautic, 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.
List of advistors
For Astorg Partners (Thierry Timsit, Stéphane Epin, Mathilde Desanges, Benjamin Dierickx)
M&A : Bryan Garnier (Olivier Beaudouin, Vincent Gasne)
Strategic DD : Bain & Cie (Jérôme Brunet, Matthieu Vigneron)
Financial DD : Accuracy (Arnaud Lambert, Anthony Theu)
Legal : Corporate (Alexis Terray, Sebastien Crepy), Tax (Allard de Waal, Thomas Pulcini), Debt (Mounir Letayf)
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