Somfy Group set up a LBO with the CEO of Cotherm

a company specialized in temperature control solutions

Cotherm S.A., located in Vinay (Isère, France), is specialized in designing and manufacturing thermal regulation components. Its products are mainly used in electric water heaters and electric heating devices. The company also provides customized programming and thermal regulation systems for its OEM customers.

In 2005, Cotherm’s sales reached 22 M€, of which 30% in France and 70% in more than 25 countries. The company has a strong growth potential on its market. In 2001, a primary LBO was set up at Cotherm, involving its manager Jean-Pierre Serigny, one of the family shareholders.

Somfy signed on April 24th a Shareholders Agreement aiming at buying back the stakes of the former financial investors, in order to set up a new Leverage Buy Out. Somfy’s investment amounts 5,2 M€. Respective stakes will be 65% for Somfy and 35% for J-P Serigny.

Somfy will keep the management headquarters and main plant of Cotherm in Vinay.

For Somfy, this deal is not a diversification but a financial investment witnessing the Group’s will to take part in the development of a dynamic and innovative company.

April 24th, 2006

Somfy has been advised by Societex agency in this operation.

Note
Somfy is the world leader in motors and controls for openings and closures in homes and buildings. Its main markets are France which accounted for 30% of sales for the last trading year, Southern Europe (19%), Germany (14%), Northern Europe (14%) and America (11%).

Contacts

Somfy:	Nicolas Duchemin – Tel : 04 50 40 48 49
Societex:	Christian Tachon – Tel : 04 72 59 10 40
Shan:	François-Xavier Dupont – Tel : 01 44 50 58 74