Gimaex buys EGI

24 April 2008

The deal, said Gimaex chairman, Philippe Mis, “ us more pieces in the chess game of providing safety equipment. We now have more solutions to propose.”

As a consequence of the deal, Michel Benoit-Cattin has returned to Egi as managing director, a position he previously held for 18 years. He replaces Marc Guery who leaves the company. Mr Mis told AI that the remainder of key people will remain; “There is no reason not to give trust, and we would like to hire some people to consolidate our expertise.”

Gimaex, formed in January 2003 and based near Paris, operates the companies Riffaud, Bemaex (highway emergency services equipment) and Gicar (fire-fighting vehicles). It exports about 40% of sales to 25 countries in Europe, Asia, and Africa.

Mr Mis told AI that the company will add operations at Egi's Charleville - Mezieres facility to manufacture crew cabs and accessories that are common to Gimaex's product lines. He said he “has not yet decided [about changes in distribution networks]”, but Gimaex “plans to multiply its sales by five in three years. We will reinforce the sales departments.”

Gimaex first explored the acquisition two years ago and completed due diligence in April and May.

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