BA Capital acquires French car parts business

The European private equity unit of Bank of America has acquired French precision mechanics business Enricau for an undisclosed sum.

(PrivateEquityCentral.net) BA Capital Partners Europe, the European private equity arm of Bank of America, last week acquired a majority equity stake in French automotive precision mechanics and bar-turning company Enricau.

 

The financial terms of the transaction were not disclosed. According to a statement, BA Capital will be an active investor and will work alongside management to develop the business across Europe through a greater focus on high value-added products and opportunistic add-on acquisitions.

 

Enricau, which is centred around the Lyon/Geneva area, produces parts, to a wide range of final applications and systems mostly for the automotive industry, including injection systems, steering systems, climate control systems and engine parts and fasteners.

 

“BA Capital Partners Europe is pleased to announce its partnership with Enricau’s outstanding management team and experienced founder,” Lloyd Perry, managing director of BA Capital, said in the statement. “We view this as an exceptional opportunity to support a well-positioned platform as it develops into one of Europe’s leading companies in its sector.”

 

“We are delighted to partner with BACPE and its support and expertise will enable us to establish Enricau as one Europe’s leading precision mechanics and bar-turning companies serving the automotive industry,” Henri Caux, founder of Enricau, said in the statement.

 

Bank of America’s private equity arm in Europe employs fifteen investment professionals in offices in London and Milan, and since 1996 has made direct investments in more than 20 companies. As the primary provider of private equity for Bank of America, the principal investing group manages over E8bn of capital globally.