AXA Private Equity transfers control of Sateco to CIC LBO Partners Paris, october 27th 2005

CIC Buyout Partners organise la reprise en Buyout de Sateco auprès de AXA Private Equity et Ciclad.

CIC LBO Partners is organising the Sateco LBO continuation with AXA Private Equity and Ciclad, thus enabling the management team to reinforce its position in the capital. Historical financial shareholders, AXA Private Equity and Ciclad, will retain a significant minority participation.

Based in Mirebeau (France), and founded over half a century ago, Sateco conceives, manufactures and commercialises a complete range of materials for the construction & public works sector:

• for concrete moulding (stop ends and other metal embeddings)
• for the safety and circulation of construction site workers (operating floors and
    platforms).

In 2005 the company has realized a turnover of almost €36M; it employs 190 persons at two sites.

Over recent years the company has realized a significant development, in particular thanks to the scope of its product offer, a successful industrial organization, and high service levels.
Future growth perspectives confirm the related dynamics, and are supported by the evolution of the construction market, as well as the development of services business and export.

Senior debts and the operational debt have been settled by Fortis.

About CIC LBO Partners:

CIC LBO Partners is a Management Company of the Groupe Crédit Mutuel – CIC, and dedicated to middle-sized majority LBO operations (companies with sales between €30M and €300M). CIC LBO Partners are managing CIC LBO Fund, FCPR, of which the 1st closing took place by the end of 2004. In May 2005 CIC LBO Partners singed the set-up of its second operation -after Carré Blanc- with Sateco.

Players:

• CIC LBO Partners: Bertrand Fesneau, Rémi Matuchansky
• AXA Private Equity: François Jerphagnon, Arnaud Dufer
• Ciclad: Didier Genoud, Valmy Nicolas

Advisers:

• Lovells: Moniques Sentilles Dupont, Stéphane Martin
• Nomos: Jean-François Pourdieu, Thibault Caharel
• SCP Clara Cousseaud, Ouvrard, Fagot, Reye, Saubole, Séjourné et associés: Hervé Ouvrard
• BNP CF: Jean-Marie Doulcet, Stephane Retterer Maspero
• Constantin & Associés: Jean Paul Séguret, Thierry Billac
• BIPE: Michel Vivinis

Bank:

• Fortis: Pauline Godillot, Henri de Rochebrune.
• Gide Loyrette Nouel: Eric Cartier-Million, Mary Serhal

Contacts CIC Buyout Partners

Bertrand Fesneau, Rémi Matuchansky   
b.fesneau@cicBuyoutpartners.fr, r.matuchansky@cicBuyoutpartners.fr
Tel: +33 1 42 66 70 57

Contact AXA Private Equity

Tel: +33 1 44 45 92 20