AXA Private Equity and the Company's executives take over Photonis Paris, Friday January 4, 2002

AXA Private Equity and the existing management team are organising the takeover by LBO of Photonis, a company specialising in the manufacture of photomultiplier tubes (for medical applications) and light intensifying tubes (for night vision).

This operation was carried out through HolFra Finances, the controlling holding company,73% of which is held by the LBO funds managed by AXA Private Equity’s team, 24.5% by the executives and 2.5% by Indigo Capital. At the same time, the executives are increasing their initial interest in it.

This change in the ownership of the shares yet again shows how AXA Private Equity puts its entrepreneurial spirit at the service of capital investment: it will allow Photonis to continue its development with the capacity to seize any opportunity for outward growth. With a turnover of € 60 million and growth exceeding 10% per annum, Photonis occupies very strong positions in systems allowing the detection and amplification of very low levels of light.

Indeed, Photonis is not only the world leader in photomultiplier tubes integrated into medical nuclear imaging equipment but also the European leader in light-intensifying tubes integrated into night vision systems.

For the carrying out of this operation, Société Générale Corporate Finance advised the assignors, Barclays Private Equity and Parconexi.

AXA Private Equity, the management company of the AXA Group specialising in unquoted investments, covers all activities of investment capital (LBO, Venture, Expansion, Recovery, Fund of Funds). It carries out its LBO activities through two investment funds and manages or advises over € 4 billion of Private Equity funds.

Press Contacts:

Photonis
René Dupont
Tel: +33 5 55 86 37 53