Groupe Doucet, which operates in the French homecare and professional cleaning products markets, has been sold to European mid-market private equity firms ABN AMRO Capital and ING PARCOM Private Equity. The consideration for the deal was undisclosed.
Private equity firms CDC Ixis and SG Private Equity, which backed its original buyout in 1999, are selling the business. The two firms have overseen several strategic acquisitions, but are exiting at a time when the company needs additional funding to make further acquisitions in France and Europe.
Groupe Doucet distributes its homecare products range – comprising the Starwax, Kapo and Kiraviv brands – to DIY stores, while its professional cleaning products brands Purodor and Marosam are sold directly to small and medium sized enterprises and local authorities. The firm has annual turnover of €55 million.
“Groupe Doucet is well positioned across the markets in which it operates,” said Hervé Claquin, managing director of ABN AMRO Capital France. “Our investment will enable the company to further expand its product range and market share in France as well as beyond.”
Since the start of 2003, ABN AMRO has invested in two other French buyouts: healthcare company AES Laboratories and support services firm Protection One. It also completed two recent exits with the sale of MGE Ups to Schneider Group in February and AFE to Sagard in April, as well as a partial exit from De Dietrich Thermique on its sale to REMEHA.