A group of investors, led by Stéphan Pham and family owned private equity group Elaïs Capital has purchased a majority stake in French aerial work platform manufacturer France Elévateur.

The details of the transaction have not been disclosed. The deal was completed with two other co-investors Argos Expansion and Capital Export. Meanwhile existing shareholders Vincent Thouvenot and Claude Muller who bought the business in 2000, through their holding company, MT Trading- retain a minority stake and their management roles.

As part of the 'buy-in' Stéphan Pham has taken over as chief executive of the company, having spent the past 13 years as chief executive of inspection and management services provider Trigo. Prior to this he worked as managing director of Australian machine tools manufacturer Farley Laserlab and sales director of German manufacturer Schaeffler.

Pham, said,“For 10 years, France-Elevateur has positioned itself in highly demanding markets with premium, differentiated products. The group has gained a strong image and benefits from unique strengths to capture several market opportunities in France and abroad. I am very proud to take the responsibility of leading this exciting project.”

Thibaut de Chassey, managing partner of Elaïs, added: “France Elevateur fits perfectly with our strategy of investing in growing private midmarket companies on behalf of our client base of family investors. The group is a clear industry leader in its home market, with a unique innovation record and attractive growth opportunities throughout Europe. We are delighted to support this management team who is highly regarded in its market.”

Established in 1986, France Elévateur is a leading specialist aerial lift manufacturer in France, employing around 200 people and generating revenues of €41 million, of which around eight percent was export. The company has said that it now intends to reinforce its German and Benelux operations, while developing its network further afield, initially with its range of specific products and then its entire product range. It will also introduce several new products, which are currently under development, for the French market.

Elaïs Capital was set up by Thibaut de Chassey in 2014, with the support of Bucephale Finance, and acquires minority and majority stakes in French businesses with an enterprise value of 20 to €100 million with funds managed on behalf of eight family investors. Elaïs has become the main shareholder alongside co-investor Argos Expansion and Capital Export.

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