3i and management sell Transports Alloin to Kühne + Nagel
3i, an international leader in private equity, today announces that it has sold its stake in Transports Alloin to Swiss company Kühne + Nagel, a world leader in logistics.
In 2006, 3i took a 28.5% stake in the family owned business based in Villefranche-sur-Saône, near Lyon. 3i subsequently designed a structure that enabled Jean-Louis Alloin to take control of the company with 53% of the shares, with the management holding 18.5%.
3i has a strong track record in the transport and logistics sector and has provided this distribution group specialising in packages from pickup to delivery, and offers a choice of standard, rapid and express delivery across France with the benefit of its network and its on-the-ground expertise in order to optimise both growth and profitability. In two years, turnover grew by nearly 50% to almost €300 million, while the number of employees rose from 2,300 to 3,000.
With the acquisition of Transports Alloin, Kühne + Nagel adds to its European network. In its business areas, Transport Alloin will be the Swiss group’s leader in France.
According to 3i partners Denis Ribon and Laurent Savinelli, “Transports Alloin has shown that it is able to generate profitable growth in this sector, which is very capital intensive and has tight margins. The fact that it is joining one of the European leaders shows that its strategic positioning has been correct”.
Jean-Louis Alloin, who will retain his position as chairman of the group in the new entity, said: “We are very happy to be joining an international group like Kühne + Nagel. We are sure that our clients will value this new structure and will benefit from the expansion of our range of services”.
Xavier Urbain, a member of Kühne + Nagel’s executive committee, added: “Expanding our overland logistics business in France is essential to our European development and Alloin gives us a strong position in that important economic area”.
This transaction remains subject to the approval of the EU competition authorities.
The transaction is expected to close at the beginning of January 2009.
Notes to editors
About Kühne + Nagel
With around 54,000 employees and 850 offices in more than 100 countries, the Kühne + Nagel Group is a world leader in logistics. Its strong market position is based on sea freight, air freight, overland and overseas logistics, as well as powerful IT tools that enable it to monitor and manage the whole transport and logistics chain.
3i is a world leader in private equity. We focus on Buyouts, Growth Capital,Infrastructure and Quoted Private Equity (“QPE”) and invest across Europe, the United States and Asia. Our competitive advantage comes from our international network and the strength and breadth of our business relationships. These underpin the value that we deliver to our portfolio and to our shareholders.
3i’s world leading growth capital team provides financial and strategic support to established businesses with potential for outstanding growth, across Europe, North America and Asia. We invest up to €250m to help businesses achieve their growth ambitions, restructure shareholdings, release equity or change the balance of equity to debt. Once invested, we are committed to working in partnership with majority business owners.
Recent investments include Foster + Partners (UK), Union Radio Group (Spain), Quintiles (US), Venture Production Plc (UK), UFO Moviez (India) whilst some successful exits include Senoble (France), Alimak Hek (Sweden), SeLoger.com (France), Williams Lea (UK) and Hayley Conference Centres (UK)
For further information please contact:
Kathryn van der Kroft
tel. +44 207 975 3021