Bretèche Industrie is a leading global supplier of agro-food processing equipment.
Formed through the consolidation of seven food equipment manufacturers, Bretèche Industrie specialises in the storing, dosing and mixing of food, pharmaceuticals and cosmetic products.
The group has extensive expertise in the design and production of equipment ranging from standard machines, such as kneading and mixing machinery for craft and industrial baking, to production lines including automated kneading lines, storage and dosing systems and specialist production lines for Emmental cheese.
Bretèche Industrie also supplies equipment for the processing of pharmaceuticals, and homogeniser and mixer equipment for the cosmetics industry.
Equistone has worked alongside the management team to support its plans for expansion through two successful build-ups:
- In February 2015, Bretèche Industrie’s German subsidiary, Diosna, acquired Hannover-based IsernHäger, a specialist in liquid sourdough technologies.
- In July 2016, the acquisition of Shick, a Missouri-based provider of ingredient automation systems, enabled Bretèche Industrie to establish a presence in the United States.
During the investment period, Bretèche Industrie has demonstrated strong growth, increasing revenue from €165m in 2013 to €244m forecast for the financial year ending 2017.
Early in the life of the deal, Equistone oversaw a change in senior management by making key internal promotions to the CEO and CFO roles. Equistone then introduced Jacques Sellier, who acted as an advisor to the new management team and focused on operational value creation. Equistone also supported the improvement of reporting systems and internal procedures at subsidiary and group level.
Equistone sold its Fund IV investment in Bretèche Industrie to IK Investment Partners. The realisation resulted in a money multiple of 4.5x and an IRR of c. 39%.
We are proud of our active support for the teams at Bretèche, both to develop original business lines and to pursue its international growth strategy, particularly with the acquisition in 2016 of Shick in the field of dosing equipment in the United States.