Somfy Participations signs an agreement with Usines Métallurgiques de Vallorbe (UMV)

Somfy Participations, the investment arm of Somfy (ISIN code: FR0000120495), has signed an agreement to acquire a 68% equity stake in Usines Métallurgiques de Vallorbe (UMV) in Vaud canton, Switzerland.

Established in 1899, Usines Métallurgiques de Vallorbe (UMV) is a world leader in the manufacture of high-quality files for a large number of sectors, such as forestry, jewellery and watchmaking.

With more than 320 employees, UMV makes tools for removing material, such as files, rasps, rifflers or engraver’s gravers. They are marketed in more than 80 countries on all five continents, through a network of more than 300 agents or distributors.

Usines Métallurgiques de Vallorbe possesses a research & development laboratory and offers almost 2500 different articles that meet the exacting standards of its professional clients. It markets its products under both the Vallorbe and Glardon brands and under private labels or the brands of major industrial companies.

Usines Métallurgiques de Vallorbe generates revenues of about fifty million Swiss francs, including more than 90% in export sales.

Subject to certain conditions precedent, the transaction is expected to close next June.

Jean-François Lours, Director of Somfy Participations said: “We plan to assist the UMV management team in implementing the ambitious and dynamic project that it has launched, including a large capital expenditure programme, in order to strengthen the company and help it continue to develop.”

About Somfy

The Somfy Group is structured as two separate branches: Somfy Activities, which is dedicated to the automation and control of openings and closures in residential and commercial buildings (screens, gates, doors, blinds, curtains, shutters, etc.), and Somfy Participations, which is dedicated to investments and equity shareholdings in industrial companies operating in other business sectors. In 2013, the Group generated net sales of € 996.8 million and reported a current operating result of € 150.6 million and a net profit of € 101.2 million.

About Somfy Participations

Somfy Participations invests in mid-sized companies whose activities lie outside of Somfy's core business. Somfy Participations intends to be an active partner for its affiliated companies in order to help them benefit from its experience, resources and know-how and help them maximize their strengths. Somfy Participations targets companies whose business model it understands and that share its entrepreneurial values.

More informations : http://www.somfyfinance.com

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Shan – Arnaud Monnin - Tél: + 33 (0)1 44 50 51 77 - arnaud.monnin@shan.fr