- Tractel expanded internationally under Cinven’s ownership, notably through growth in the US and the Nordics
- Tractel completed two bolt-on acquisitions under Cinven’s ownership
- Cinven Fund V acquired Tractel in October 2015
Cinven announced on Tuesday that it has agreed to sell Tractel, a Foetz, Luxembourg-based safety specialist that provides working-at-height solutions and services. Alimak Group, a Stockholm-based provider of vertical access solutions for professional use, has agreed to purchase Tractel for an enterprise value of approximately €500 million.
Tractel was founded in 1941 and provides solutions and services used across the industrial, construction, energy, communications and infrastructure sectors. It has operations globally including manufacturing facilities in Europe, North America, Singapore and Turkey.
London-headquartered Cinven is a global private equity firm founded in 1977 with offices in Guernsey, New York, Paris, Frankfurt, Milan, Luxembourg, Madrid and Hong Kong. The firm has made over 140 investments, making more than €44 billion in realised proceeds. It invests in companies within the business services, consumer, industrial, financial services, healthcare and TMT sectors in Europe and North America. It manages capital on behalf of more than 200 global investors.
“Under Cinven’s ownership, Tractel has completed the acquisition of two significant businesses, successfully developing the brand and expanding the business,” said Pontus Pettersson, partner at Cinven. “This has reinforced the strategic value of Tractel, and helped position the business for a trade exit. The combination of Tractel and Alimak will create a leading global business with significant opportunity for future growth, in a market where there is substantial room for further penetration of its products and services. We wish them the best in this next phase of their growth journey.”
“Cinven has provided significant support to Tractel over the last few years, most notably with two considerable acquisitions which have allowed us to expand substantially into our core markets,” said Philippe Gastineau, CEO of Tractel. “With increased investment in the development and innovation of our products, we now provide best-in-class solutions to our customers and clients and in turn, have become a world-leader in the working-at-height solutions market. We look forward to the next chapter of our growth journey as part of the Alimak Group.”