Eurazeo doubles first half sales in 2007

The Paris-quoted firm generated revenues of €1.2 billion in the first half of 2007, double the amount for the same period in 2006.

Eurazeo, a listed French investment group, reported revenues of €1.2 billion for the first half of 2007 – an increase of 97 percent from the €618 million that it generated in the first six months of last year.

The company’s investments in the six months to the end of June included the acquisition of German car park operator APCOA, and car rental business Europcar’s acquisition of Vanguard’s European operations.

Europcar contributed significantly to Eurazeo’s overall consolidated revenues accounting fot €841.1 million of the total. The acquisition of Vanguard’s European activities for €670 million generated €139.5 million of revenues.

APCOA, which Eurazeo bought for €885 million in May 2007, contributed sales of €94.8 million.

Rexel, another of Eurazeo’s portfolio companies, generated revenues of €5.3 billion during the period. The business was not included in Eurazeo’s consolidated sales because it was accounted for as equity. Rexel distributes electrical equipment and was bought with a consortium of private equity firms for €3.7 billion in 2004.

Eurazeo raised a €500 million co-investment fund in March. Last week, the firm bought uniform rental agency Elis from French buyout rival PAI Partners for €2.28 billion.