Barclays Private Equity France acquires majority stake in Compin Group

Barclays Private Equity France today announces it has acquired a majority stake in Compin Group, the European leader in railway fittings and front-ends.  

Compin Group was founded in 2005 and was originally financed by LBO France. Following the new deal, LBO France will become a minority shareholder in the company.  

Guillaume Jacqueau, Managing Director at Barclays Private Equity France, said: “We were attracted by Compin Group’s robust position in the railway market and its strong order book. The company has ambitious growth plans in the UK – the third largest railway market in Europe – and we are looking forward to working with Compin Group’s management team to achieve these goals.”  

Compin UK, part of the Compin Group, is the UK leader in the production of train interiors and driver desks. Part of the Compin Group’s growth strategy is to open a Proximity Assembly Centre (PAC) in the UK to allow for the production of seats and front applications, a move that reflects a similar successful strategy in France.  

“The Compin Group has been serving the UK railway market for over 15 years and the company’s commitment to more localised production is good news for British jobs.”  

Compin UK employs 60 people with a forecasted activity of around £6 million in 2008/2009.  

Barclays Private Equity France is being backed in the deal by BNP Paribas, Société Générale, LCL, Banque Palatine, BESV and the Crédit Agricole group.  

Compin Group was originally known as Compin, a designer and manufacturer of train seats, founded in 1902. The company has since expanded into other interior railway car fittings and front-ends. It now turns over €114 million (2007/2008) and employs 1,025 employees.  

Marc Granger, Chief Executive of Compin Group, said: “The investment by Barclays Private Equity France will enable us to remain focused on our plans to further develop solutions to our customers’ needs, whether through product design and innovation, improvement of production capabilities or refinement of logistics and local services.”