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The FSI invests €15mn in the capital of the Riou Glass group
Financing companies - 27 January 2012
On 25 January, the Strategic Investment Fund (FSI) invested €15mn through a capital increase within the holding company of the Riou Glass group, the 1st independent glass transformer for to the building industry in France, to support its industrial development.
With this equity capital investment, the FSI thus becomes a minority shareholder in the Group, alongside the Riou family, with a seat on the company’s Supervisory Board. The intention is for the FSI to become a long-term financial partner to the family-run intermediate-sized industrial firm, providing support for its growth plans, and for this operation in particular, which helps to maintain a competitive glassmaking industry in France.
As part of a strategic partnership with Saint-Gobain Glass, Riou Glass will concentrate on the production of flat glass, with the acquisition from its partner of a 50% stake in the capital of subsidiary Eurofloat, sharing both control and production.
Since its founding in 1979, Riou Glass has expanded both through organic growth and successive acquisitions of specialised regional sites complementing its technological range. The group now offers a full range of flat glass cutting, processing and forming skills. It employs a total workforce of 830 employees at 17 plants in metropolitan France, La Réunion and Mauritius.
* An intermediate-sized company (ETI in French) is larger than an SME, employing up to 4,999 employees, and with annual revenue of up to €1.5bn or a balance sheet total of up to €2bn.
