The Paris office of Waterland Private Equity, a pan-European investment fund with €8.5 billion assets under management, has announced its first acquisition one year after its launch in France. The fund has become the majority shareholder in Alliance Electronics, a group comprising Altrics and Proto-Electronics.
Alliance Electronics is a company specialising in prototyping and manufacturing services for low volume printed circuit board assembly destined to the healthcare, electric vehicle charging and IoT industries.
With its cutting-edge expertise and end-to-end service support, from design to complete system integration, Alliance Electronics has established itself as a leading player in its sector. Alliance Electronics serves its European customer base from three locations: Alsace, where it is headquartered, Portugal and Tunisia.
The double-digit organic growth of the company, which has a turnover of around €50 million, will be accelerated by an ambitious external growth strategy supported by Waterland.
The investment is made alongside the current shareholders and the management team led by Damien ROSSIGNON.
Damien ROSSIGNON, President of Alliance Electronics, said: "The partnership with Waterland opens a new chapter of expansion through external growth for Alliance. Its entrepreneurial culture and its know-how in European consolidation make Waterland the ideal partner to develop the group's European leadership".
Louis HUETZ, Managing Director of Waterland France, comments: "We were very impressed by the quality of the Alliance Electronics management team and the remarkable track record of the company they have created. With this first transaction in France, we are very pleased to support Damien ROSSIGNON and his teams in a buy-and-build approach which is at the heart of Waterland's strategy.
- Ayache (Olivier Tordjman, Bruno Erard, Alain Levy)
- El Ajeri (Lotfi El Ajeri)
Financial audit: PwC (Philippe Serzec)
Legal, tax and social audit: E&Y (Lionel Benant)
Financing: Rothschild & Co (Pierre Pessans-Goyheneix)
Alliance Shareholder advisors
- Jeausserand-Audouard (David Lambert)
- Meziou Knani & Khlif (MK&K) (Ghazi Meziou et Omar Ben Slimane)
- Austrian Private Equity & Venture Capital Organisation (AVCO)
- Belgian Venturing Association (BVA)
- British Private Equity & Venture Capital Association (BVCA)
- Bundesverband deutscher Kapitalbeteiligungsgesellschaften (BVK)
- Irish Venture Capital Association (IVCA)
- Nederlandse Vereniging van Participatiemaatschappijen (NVP)
- Polskie Stowarzyszenie Inwestorow Kapitalowych (PSIK)
- Swiss Private Equity & Corporate Finance Association (SECA)