Argos Soditic sells to BPE

The French buyout firm has sold its investment in Eau Ecalarte, a company making cleaning products, to Barclays Private Equity.

Argos Soditic, the French buyout firm, has sold its stake in Eau Ecalarte, a stain removal company, to Barclays Private Equity, for an undisclosed sum.

This is the first exit from Argos’ latest fund, Euroknights IV. To date five investments have been made from the fund since it closed at E160m at the end of 2000. The other deals are investments in companies operating in France, Switzerland, Italy and Portugal.

Eau Ecarlate makes stain removing products for textiles such as dry stain removers, pre-wash stain removers and washing enhancers. The company’s annual sales are in the region of E67m. Argos bought the firm in September 2000. 

Argos Soditic focuses on mid-market buyouts, investing anywhere between E5m and E50m in European companies with revenues in the reach of E20m to E400m regardless of industry. The company was founded in 1989 and has raised and advised on three private equity funds totalling E310m. The firm has invested in 31 businesses and completed 16 exits.