PAI Partners has made a binding offer for a majority stake in Naxicap Partners-owned hospitality equipment and consumables business ECF Group.
Naxicap would remain a minority shareholder following the deal for ECF, which has annual revenues of about €760m.
The company provides tableware, kitchen equipment, hygiene equipment, electrical equipment, furniture, buffets and essentials for take-away sales and delivery.
PAI said it would support ECF to further accelerate its growth, both organically and through acquisitions, in what it says is a highly fragmented market.
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Mathieu Paillat, a partner at PAI Partners, said, “ECF is an exceptional business with a strong portfolio of partner- and private-label brands serving a high-quality, diversified customer base.
“We see enormous potential to scale the business even further, strengthening the group’s offer and extending its global reach.”
Source: AltAssets
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