Gimv: takes 30% stake in Picot
(CercleFinance.com) - On Thursday Belgian investment company Gimv announced that it has taken a stake of around 30% in Picot, a French industrial group specialised in the manufacture of gates and fences.
With the arrival of Gimv alongside its current shareholders and management, it aims to continue the company's internal and external growth strategy, with the aim of building the European market leader.
A new strategy was implemented from 2017 onwards, following the acquisition of the company by Robur Capital, with Telesco as co-investor.
The company has since doubled in size through the expansion of its product range, the conquest of new geographical markets and several acquisitions.
Picot Group posted 2021 sales of 212 million euros and had 926 employees.
The Gimv share is currently down about 0.2%, although is outperforming the Belgian market (about -1%).
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