Paris-based private equity group PAI Partners has acquired a majority stake in French rental company Kilitou. PAI purchased Sagard Private Equity’s ownership share for €535 million (about U.S$767 million). Sagard will retain a minority ownership in the company by reinvesting €75 million.
Kilitou, founded in 1980, is one of the largest rental companies in France with 283 branches, with EBITDA of €76 million (about U.S. $109 million) on revenue of €292 million (about U.S. $419 million) in 2010. Kilitou is based in Marcq-en-Baroeul, France.
PAI plans to grow the company internationally.