French buyout firms Groupe Siparex and Initiative & Finance, and investment bank Bpifrance SA purchased a 51% stake in Rise Group, formerly known as Rondot Group, Unquote reported, citing a source close to the situation.
Under the secondary buyout deal, Initiative & Finance bought a 20% stake in the business, which lists Siparex as one of its investors since 2016. Crédit Agricole Régions Investissement SAS, or Carvest, and MBO & Co., previously known as MBO Partenaires, have exited the company, according to the report.
The target company makes mechanical and electronic equipment products for the glass manufacturing industry.
Siparex, Initiative & Finance, Carvest and MBO Partenaires were not available for comment at the time of publication, the report said.