Cathay Capital Private Equity, the first self-made global private equity firm and a leader in cross-border investment in Europe, China and the United States, today announces it successfully completed an investment in the ATI group. ATI is a family-owned SME specialized in the design and manufacture of cremation furnaces, waste incinerators, and filtration systems. This investment will be made via the Sino-French Fund with the aim of further developing the company in France and abroad.
Based in Gien (Loiret), the ATI group has been posting a remarkable growth of 20% per year for 10 years, and is expected to realize €25 million in sales in 2016. With its expertise developed since 1930 and its innovative filtration technology, ATI is the market leader in France and the number 2 in Europe, managing over 3,000 references. The company owns a subsidiary in Great Britain and covers over 40 countries, exports already representing 70% of its activities.
As part of this primary LBO, the former manager and sole shareholder of ATI, Philippe Berchon will leave the group, after having prepared his succession for over 2 years. Cathay Capital will invest as a minority shareholder alongside Vespa Capital, new CEO Ernest Ibanez, and key executives of the company. Ernest Ibanez, CEO of ATI, says: “The ATI management team and I are very pleased to be able to build on Cathay Capital’s experience and ecosystem on three continents to consolidate our position in the European market and accelerate our international growth. With the support of our shareholders, we specifically plan to open subsidiaries in Italy, Spain and China in the next three years.”
Mingpo Cai, President and Founder of Cathay Capital Private Equity, comments: “We are delighted to support the ATI group in a context where cremation and incineration are structurally strongly growing markets, driven by demographic changes and stricter regulations, including higher anti-pollution standards. We know we can count on a complete and talented management team and specifically on the experience of over thirty years of Ernest Ibanez in the areas of incineration and cremation. Cathay Capital intends to act as a useful and high value-added partner to the entire ecosystem of the ATI group.”