EiM Capital plans to acquire the French industrial hydraulic component business of JTEKT

06-01-2022

EiM Capital and Apogee announce that they have granted to JTEKT Corporation, a leading global manufacturer of power steering and automotive parts, a put option offering to acquire its French industrial hydraulic components division (”HPI Industrial”). 

EiM Capital is a private equity firm focused on the acquisition, transformation and development of companies of tomorrow in need of a new impetus.

Apogee is an exclusive principal focused on accelerating the growth of middle-market companies with a strong focus on the entrepreneurial aspects of a business with a view to value creation.

Founded in 1966, HPI Industrial is specialised in the design and production of hydraulic components based on the technology of external gearing pumps and has operations in France and in Canada. End sector applications include material handling, aerospace, agriculture, healthcare.

This project remains subject to consultation with employees’ representatives. Jtekt Corporation will continueto own and operate HPI Industrial until the potential completion of the transaction, which is expected over the course of the next six months.

Renaud Delaage and Luigi Chiaraviglio, founding partners of EiM Capital, have commented: “We would be very pleased to acquire HPI Industrial. The contemplated transaction sits squarely within our ‘sweet spot’ ofinvesting in industrial companies and is designed, specifically, to further leverage our capabilities to grow companies internationally. We believe there is great development potential in HPI, thanks to the company’s know how and strong market position. We intend to partner with, and support, the management team in the deployment of its strategic orientations to optimize growth and value over the long-term.”

Filippo Aleotti and Filippo Sciorilli Borrelli, for Apogee, added: “It would be a privilege for us to enter into an organization with a heritage, know-how and reputation such as those that HPI displays. We are very excited by this opportunity to start working together with management to bring value to HPI’s customers, developing stronger partnerships, investing in technology and product development for supporting the company’s growth in Europe and its further development in Asia and the US.”

This acquisition would mark the second company acquired jointly by EiM and Apogee, following the acquisition of Omniplast in 2019.