Sun Capital buys French metal manufacturer(2)

Sun European Partners, the European arm of Sun Capital Partners, has bought metal manufacturer Manoir Industries for an undisclosed amount.

The European arm of US-based turnaround private equity firm Sun Capital Partners has acquired Manoir Industries, a French manufacturer of metal components and assemblies, in secondary buyout. It paid Fin’Active, a French private equity firm, an undisclosed sum for the business which Fin’Active acquired in 2005.

The investment comes out of Sun Capital Partners’ fourth fund, which has commitments of $1.5 billion (€1.1 billion), and which was raised in April 2005. The firm is expected to go back fundraising later this year with a $4.5 billion target.

Nathaniel Meyohas, the firm’s vice president, said: “This is a new sector for us; we think there is fantastic opportunity for growth in the sector. Manoir also has a tremendous position in the market place.”

Manoir Industries had sales in 2006 of more than €335 million. It has offices in France, the US, the UK, Japan and Italy.

Founded in 1995, Sun Capital Partners has $3.5 billion under management, and operates from offices in New York, Los Angeles, London and Tokyo.

Deloitte advised the private equity firm.