MML backs Tournus Equipement

MML has invested €10m into Tournus Equipement, based in France, through a mix of bonds and shares, taking a 21% stake in the company.

MML led the deal, with other minority partners, teaming up with management to enable them to acquire the business, which was previously majority owned by private equity. Management rolled all of their value demonstrating their commitment to the business.

Tournus is the French leader of stainless steel professional equipment for catering companies, professional kitchens and sales counters for food and beverage vendors. The company designs and manufactures a large range of products, from its plant in the Bourgogne region.

Henry-Louis Merieux and Sebastien Beth both led and executed the deal for MML, with Henry-Louis joining the board.

Chief Executive Officer, Pierre Marcel stated:

“We are delighted to partner with private equity investors MML Capital, UI Gestion and Bpifrance, which will accompany us in this new phase to both strengthen our position in the French market and to further expand our international sales. Additionally, selective bolt ons will be considered.’

Henry-Louis added:

‘We decided to back Pierre Marcel and his team, given the company’s excellent positioning in its core market and its growth opportunities in France and abroad, thanks to its well-invested manufacturing plant and its large and competitive product offering. This project reflects perfectly MML’s strategy to back managers to increase their equity stakes in their businesses, and to finance organic and external growth opportunities.’

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