Sale of Tiama – Caravelle granted exclusivity
Tiama's lead shareholder, EQT Credit II, EQT's credit opportunities fund, along with Kartesia, European Capital, and Omnes have entered into exclusive discussions to sell Tiama to Caravelle, a leading industrial French family office.
Tiama is the global leader in hollow glass testing and inspection and is based in Vourles, France. Tiama generates sales in excess of EUR 100 million and has over 200 employees.
The shareholders purchased Tiama from LBO France following a consensual debt restructuring in 2015. Since 2015 Tiama has successfully achieved its strategic value creation goals by increasing its geographic footprint in North America and in Asia, developing services and broadening the company's presence in the value chain.
Cyril Tergiman, Partner at EQT Partners and Investment Advisor to EQT Credit II, said, "We and the other shareholders are proud of the success of Tiama and are pleased to have found in Caravelle a great prospective owner. Max Hodeau, Tiama's CEO, and his team have done an impressive job over the years in growing and transforming the company”.
Hélène Martel-Massignac, Chairman and CEO of Caravelle said, “We are delighted with the prospects of this acquisition. Over the past months we have forged a strong conviction on the potential of Tiama - with its existing business lines, and the ones to be developed. We have been impressed by the quality of the managers and their teams and we are confident that the recent developments will make the company stronger than ever”.
Max Hodeau, CEO of Tiama said, “We would like to thank the team of our current investors for their advice and support over the past years. We have been able to successfully expand our business and develop innovative products lines. The entire management team is excited at the prospect of working with Caravelle, a highly respected industrial French family office in order to continue the company's core objective of putting our customers first”.
Cyril Tergiman, Partner at EQT Partners and Investment Advisor to EQT Credit II, +44 207 430 5513
EQT Press Office, +46 8 506 55 334
EQT is a leading alternative investments firm with approximately EUR 37 billion in raised capital across 24 funds. EQT funds have portfolio companies in Europe, Asia and the US with total sales of more than EUR 19 billion and approximately 110,000 employees. EQT works with portfolio companies to achieve sustainable growth, operational excellence and market leadership. EQT Credit II is part of the EQT Credit investment platform. EQT Credit has been supporting companies since 2008 across senior debt, direct lending and credit opportunities strategies.
More info: www.eqtpartners.com/Investment-Strategies/Credit
Worldwide leader in inspection and control for glass containers industry, present in 80 countries with more than 93% export sales, employing 90 engineers in R&D and more than 65 engineers for servicing all our customers in the world and generating a turnover above EUR 100 million.
More info: www.tiama.com