AXA Private Equity leads an LMBO over Champeau Group Paris, Thursday September 19, 2002

AXA Private Equity, together with the founder manager and current CEO, Mr. Jean-Pierre Champeau, has completed the acquisition via an LMBO of Champeau Group, the leading French manufacturer - with a 10% market share - of wood roof truss systems dedicated to individual houses.

Champeau’s headquarters are based in the Centre of France near Limoges and the 9 production facilities are located in Limousin-Auvergne, Rhône-Alpes, Midi-Pyrénées, Ile-de-France, Languedoc-Roussillon, Pays de la Loire and Aquitaine.

Due to a solid and efficient business model as well as the outstanding quality of the management team, Champeau Group has tripled its revenues over the last 10 years, whilst steadily improving its profitability. Turnover reached € 42.3 million in 2001 with an EBIT margin above 10%.

Via this LMBO, AXA Private Equity has led the foundation for the transition of the founder management in the medium term and offers financial resources to boost the expansion of Champeau Group in France either by opening new production sites or by acquiring local players. This buy-and-build strategy seems especially attractive due the fact that the wood roof truss market is still very fragmented. Champeau Group’s target is to double its revenues over the next 5 years.

AXA Private Equity shall own 73.5% of the acquisition holding, the remainder being held by Mr. Jean-Pierre Champeau (18.7%) as well as the rest of the existing management team (7.8%). The leverage of the LMBO is moderate and the funding does not include any Mezzanine financing. CIC arranged and underwrote all of the funding for the deal.

additional information: www.champeau.fr