GEI supports the electrical equipment manufacturer AUXEL FTG
The multi-regional investment fund GEI acquires a stake in the family-owned group AUXEL FTG, one of the European leaders in distribution and electrical interconnection solutions. Based in Gondecourt (France, 59) and Triberg (Germany), this group generates 40 million euros in turnover, primarily from its export activities.
Already established in France, Germany and China, the group intends to strengthen its capacity to roll out its activities internationally, particularly in the United States and India where a branch was set up in 2011. This is the 6th investment for FCPR GEI, which has invested almost 30 million euros since its creation in 2011, in companies at a developmental or transition stage. GEI steps in today to support the continued development of AUXEL FTG, particularly in the United States and India, and is taking over from the investors that joined in 2006 (SIPAREX) when the group was developing its activity in China. The GEI fund will hence hold a minority stake alongside the group’s founding leaders. GEI made this investment with the backing of teams from the group IRD, a key player in the funding of SMEs in the Nord-Pas-de-Calais region of France and also a fund underwriter.
Frédéric Dubuisson (GEI) and Laurent Deswarte (IRD) explain: “The growth of AUXEL FTG over these last few years clearly demonstrates that innovation and export are the keys to success for our medium-sized companies. Through this deal, we intend to provide AUXEL FTG with the resources to pursue its development in a market where customers have a global view of their market.” Marc Pavy (AUXEL FTG) adds: “At the developmental stage we’ve reached and given our growing internationalisation, it is becoming increasingly more useful to rely on a strong network and strong financial resources. Since our first meeting, GEI has been able to demonstrate its capacity to expand our business contacts and to introduce us to some of their investors and company leaders, thereby enabling us to make the most of their experience in the areas of industrial strategy, marketing approach and positioning.