Kramer Levin represented the Funds managed by Argos Soditic in the acquisition through a management buy-out (MBO) of Valco Group France (VGF), a company that specializes in the design, manufacture and maintenance of industrial valves for applications in the energy sector (petrol, gas, nuclear), the chemical sector and industry.
Founded in 1949 and located in Ruffec (SW France), VGF has 240 employees. The group realized sales of €45 million in 2013 and has worldwide recognition, through its brands SNRI, Malbranque and VVS, as an industrial expert in cryogenic valves for the liquefied natural gas industry. The acquisition of VGF from the Norwegian private equity investor HitecVision fund IV marks a turning point for the management team led by Stéphane Galichet. This team has turned the group into a market leader in the energy sector boosted by growth in emerging countries, increased use of liquefied natural gas (LNG) and the launch of new transport or terminal platforms for LNG. The objective of the transaction is to accompany the management team in its development projects whether it be the strengthening of existing markets, the identification of new channels for growth or the implementation of a strategic acquisition plan in a European market which is still fragmented.
The Kramer Levin team that advised Argos Soditic included partner Christophe Gaschin, with assistance from associates Ramona Tudorancea and Stanislas Marmion on the corporate and financing aspects, and counsel Fabienne Arrighi on the employment aspects.