NVM Private Equity (NVM) backed CGI International (CGI), one of Europe’s leading independent manufacturers of fire resistant glazing, has acquired Interver SA, the French-based manufacturer of fire glass products for an undisclosed sum.
David Jolliffe, Managing Director of CGI International: “This is our first major investment in European manufacturing operations and represents a key milestone in our aim to become the leading independent manufacturer of fire glass globally. It is also excellent news for our customers who can source all their fire rated glass requirements and solutions from the CGI International Group.”
Haydock based CGI will now operate the business as CGI France SA – a wholly owned subsidiary and separate trading entity within the CGI Group of companies. They will continue to trade under the Pyroguard brand in countries worldwide.
NVM Private Equity supported the original £10 million management buy-out of CGI back in 1998 and has recapitalised the business twice more since that time. NVM has also provided additional funding for the Interver acquisition.
CGI has built an enviable reputation as the leading specialist in its sector by following a commercial strategy which combines acquisition with organic growth. Significant projects completed by CGI include the installation of fire resistant glass at Manchester Airport, Heathrow Terminal 5, Hong Kong Airport and the Houses of Parliament.
Christophe Guillot, Chairman of CGI International, was appointed in 2008 as part of the recapitalisation to help lead the company’s European expansion. He comments: “The profile of Interver SA is an excellent fit with CGI International and we believe it will become a great asset to the group.”
Clive Austin, Director of NVM Private Equity, manages the investment for NVM: “CGI’s acquisition of Interver is of strategic importance to the Group. The deal will enhance CGI’s product portfolio, bring access to new markets and increase the speed at which the company can bring new products to market. It has the power to transform the business and we are delighted to provide further support to make it happen.”
This is the third acquisition completed in the North of England by NVM’s portfolio over the past two weeks. Kerridge Commercial Systems acquired MRP specialist Datawright and Wear Inns acquired additional pubs from the Orchid Group. Clive Austin comments “This has been a very busy and productive period for our portfolio companies and there is more to come. Now is an excellent time for strong management teams to make value enhancing acquisitions and, as investors, we are keen to fund this type of activity”.
CGI International manufactures ﬁre resistant glass and advises clients on ﬁre glazing solutions that meet both legislative and planning requirements in their market. Independently owned, CGI International operates exclusively in the ﬁre glass market, trading under the Pyroguard brand in countries worldwide. Headquartered close to Liverpool in the UK, they have a strong local presence in key markets – France, Holland, Scandinavia and the UK – which includes a proven technical service, a highly developed R&D function and a customer-centric approach.
NVM Private Equity Limited (NVM) is independently owned with over 28 years’ experience of investing in unquoted UK businesses. NVM is a generalist investor, managing over £200 million of funds, and is differentiated by having executives living and working in regional business communities throughout the UK. NVM seeks investment opportunities in UK businesses which have the right mix of growth potential and market vision. They may be looking to grow organically, acquire another business or secure a management buy-out. Typically, NVM looks to invest between £2 million and £10 million in each transaction. www.nvm.co.uk
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