BACPE acquires add-on for Enricau Group

BA Capital Partners Europe (BACPE), the European private equity arm of Bank of America, has acquired French automotive services firm César Vuarchex.

César Vuarchex, a leading player in the French automotive precision machining and bar-turning sector, has been acquired by BACPE through portfolio company Enricau Group. Financial details of the transaction were not disclosed.

César Vuarchex will be integrated with Enricau Group, which operates in the same sector. Enricau was acquired by BACPE for an undisclosed sum in April 2003. At the time of the deal, BACPE said it would seek out opportunistic add-on acquisitions.

Based in Vougy, in the Rhone-Alpes region, César Vuarchex has around 255 employees and posted turnover of €38.1 million in 2002. In a statement, BACPE said the acquisition is “noteworthy in terms of operational scale and diversity as it doubles the size of the Enricau Group while simultaneously reducing sales concentration with all of its clients.”

“By integrating César Vuarchex into the Enricau Group, we are able to combine the technical, production, process and design expertise of these two companies – both of which are already considered to be among the most skilled and experienced in the field of turned parts and precision machining,” said Lloyd Perry, managing director of BACPE.

Enricau Group produces parts for a range of applications and systems in the automotive industry including injection systems, steering systems, braking systems, climate control systems and engine parts.

BACPE employs 15 investment professionals in offices in London and Milan and has made direct investments in more than 20 European companies since 1996. Bank of America’s private equity operation has over €8 billion of capital under management around the world.