Open AWE Magazine menu
Subscribe Login

Home / Articles and Press Releases / Press Release / ENVEA Announcement

CATEGORIES

  • Latest Issue
  • Air Quality
  • Chromatography
  • Construction
  • Climate Change
  • Emissions
  • Environmental & Monitoring Technology
  • Gas Detection
  • Health and Safety Awareness
  • Humidity & Temperature
  • Laboratory Testing
  • Land Remediation
  • Marine Pollution
  • Noise Monitoring
  • Regulations & Legislations
  • Sludge and Biosolids
  • Soil Analysis
  • Spectroscopy
  • Weather Monitoring
  • Water Analysis
  • Water Monitoring

MORE

  • Press Releases
  • Events
  • Videos
  • Magazines

COMPANY

  • About
  • Advertising
  • Newsletter
  • Contact
HSI White logo
Open AWE Magazine menu
Subscribe

Home / Articles and Press Releases / Press Release / ENVEA Announcement

CATEGORIES

  • Latest Issue
  • Air Quality
  • Chromatography
  • Construction
  • Climate Change
  • Emissions
  • Environmental & Monitoring Technology
  • Gas Detection
  • Health and Safety Awareness
  • Humidity & Temperature
  • Laboratory Testing
  • Land Remediation
  • Marine Pollution
  • Noise Monitoring
  • Regulations & Legislations
  • Sludge and Biosolids
  • Soil Analysis
  • Spectroscopy
  • Weather Monitoring
  • Water Analysis
  • Water Monitoring

MORE

  • Press Releases
  • Events
  • Videos
  • Magazines

COMPANY

  • About
  • Advertising
  • Newsletter
  • Contact

CATEGORIES

  • Heat and Flame
  • Press Release|Gas Detection
  • Article
  • Press Release
  • Air Quality
  • Chromatography
  • Construction
  • Climate Change
  • Emissions
  • Environmental & Monitoring Technology
  • Gas Detection
  • Health and Safety Awareness
  • Humidity & Temperature
  • Laboratory Testing
  • Land Remediation
  • Marine Pollution
  • Noise Monitoring
  • Personal Protective Equipment
  • Regulations & Legislations
  • Sludge and Biosolids
  • Soil Analysis
  • Spectroscopy
  • Weather Monitoring
  • Water Analysis
  • Water Monitoring
  • Wellbeing at work

Press Release

ENVEA Announcement

By envea

| Read Bio

Published: June 30th, 2020

Share this article

Summary: ENVEA / CARLYLE enters into exclusive negotiations. Following the public communication dated June 29, 2020, the ENVEA Group, together with its executives and its founder, are pleased to have initiated a process of buying back its shares on the market in partnership with Carlyle European Technology Partners.The Group, which has exceeded the €100M milestone, is now entering a new stage of development while maintaining its current organisation and management team. This operation remains subject to the approval of the competent authorities, and could be finalized in the second half of 2020. Its achievement will enable the ENVEA Group to benefit from extended financial capacities, in order to intensify its growth strategy both in France and internationally.”

In relation to the acquisition of a majority equity interest in ENVEA, followed by a mandatory tender offer, The Carlyle Group has entered into exclusive negotiations to acquire a majority equity interest in ENVEA. A world-class manufacturer of ambient, emission and process monitoring systems and provider of environmental data processing and reporting solutions to industry, laboratories, and government institutions.

The proposed transaction is subject to customary regulatory approvals and would be expected to close in the second half of 2020.

Equity for the investment will come from Carlyle Europe Technology Partners IV (CETP IV), a €1.35 billion fund that invests in lower middle market technology-focused companies in Europe and the US. CETP IV would acquire through a Special Purpose Vehicle (SPV), the shares held directly or indirectly by the founder of ENVEA, François Gourdon, and by the key executives of ENVEA, together representing 28.2% of the share capital of the company. Approximately 84% of those shares would be acquired for cash at a price of €110 per share, and the remaining shareholding would be rolled over to the SPV at the same unit price

“The Group will continue to be led by the current management team”

The SPV would also acquire, at the same cash price of €110 per share, the respective shares in ENVEA held by (i) additional managers or former managers of ENVEA representing in aggregate 3.8% of the share capital of ENVEA, as well as by (ii) fifteen institutional investors representing in aggregate 23.9% of the share capital of ENVEA. Given the above, the SPV would acquire approximately 55.8% of the share capital of ENVEA, representing approximately 63.6%1 of theoretical voting rights. The Group will continue to be led by the current management team.

If the block trade is completed, the SPV controlled by The Carlyle Group will file a mandatory simplified tender offer at an identical price of €110 per share for all of the outstanding ENVEA shares not held by The Carlyle Group. The SPV has no intention to implement a squeeze out upon closing of the tender offer. In any case, the ENVEA’s Board of directors will appoint an independent expert, as required by article 261-1 I of the AMF general regulation.

The price of €110 per share (ex 2019 dividend of €0.95, which will be paid on 9 July 2020) values 100% of the shares of ENVEA at approximately €186 million (fully diluted including the 48,820 free shares plan of 21 October 2019). This represents premiums2 of 25.2% to the average closing quoted market price (weighted for daily trading volumes) over the 250 trading days prior to 26 June 2020, 9.3% to average weighted closing quoted market price over the 60 trading days prior to that date, and 8.9% to the closing quoted market price on that date.

Signature of the final agreements is subject to consultation with the employee representative bodies of ENVEA, and completion of the transaction would be subject to the usual regulatory conditions, including antitrust clearance from the Austrian antitrust authority and the foreign investment clearance from the French Minister of Economy. Closing of the public tender offer would be expected during the fourth quarter of 2020. ENVEA and The Carlyle Group will keep the market informed of any significant developments in the proposed transaction. The quotation of ENVEA shares, suspended as of today, will resume by 30 June 2020.

“this proposed deal will give ENVEA more flexibility to implement its long-term strategy, while also limiting the constraints created by Covid-19 development in the near future”

ENVEA’s monitoring solutions are sold in over 70 countries. The company has development potential in less equipped regions such as India and China as well as with its blue-chip clients – notably in Europe, thanks to tighter regulation on pollutants worldwide. This proposed deal will give ENVEA more flexibility to implement its long-term strategy, while also limiting the constraints created by Covid-19 development in the near future.

Approximately 54.7% of theoretical voting rights following the completion of the envisaged transaction, as a result of the loss of the double voting rights attached to the ENVEA shares sold or contributed to the SPV.
2 For the premium calculation, share prices are considered ex-EUR 0.95 dividend.

ENVEA has recorded revenues of €100.4m in 2019 (an increase of 9.6% compared to 2018) and €14.7m of EBIT, representing a margin of 14.7%. In 2020, ENVEA’s growth trajectory has been affected by the Covid-19 crisis and the lockdowns and restrictions in all major geographies. During the first 4 months of 2020, ENVEA has recorded consolidated revenues of €23.8m, a decrease of 22% compared to €30.7m from the same period in 2019. Management expects to catch up part of this revenue decrease in the second half of the year and currently targets sales between €95m and €100m in 2020, assuming the global Covid-19 crisis resolves in the most impacted geographies, and ENVEA can deliver its backlog. ENVEA is advised by EC M&A and King & Spalding LLP. The Carlyle Group is advised par Transaction R & Co (Groupe Rothschild & Co) and DLA Piper France LLP.


About ENVEA
ENVEA is a world-class manufacturer of ambient, emission and process monitoring systems, with full turnkey capabilities. ENVEA’s equipment and technologies encompass gas analyzers, dust monitors, solids and flue gas flow meters, as well as environmental data processing and reporting solutions. ENVEA is headquartered in Poissy (France) and has over 700 FTEs within R&D centers, production facilities and Sales & Services local business units across France, the United Kingdom, Germany, Italy, the USA, India and China.
ENVEA is listed on the Euronext Growth Paris market, under ISIN code FR0010278762.

www.envea.global

About The Carlyle Group
The Carlyle Group (NASDAQ: CG) is a global investment firm with deep industry expertise that deploys private capital across four business segments: Corporate Private Equity, Real Assets, Global Credit and Investment Solutions. With $217 billion of assets under management as of March 31, 2020, Carlyle’s purpose is to invest wisely and create value on behalf of its investors, portfolio companies and the communities in which we live and invest. The Carlyle Group employs more than 1,775 people in 32 offices across six continents. Further information is available at www.carlyle.com. Follow The Carlyle Group on Twitter @OneCarlyle.

Share this article

ABOUT THE AUTHOR

envea

Founded in 1978 and a publicly traded company since 2006, ENVEA is a leading manufacturer of cutting-edge on-line monitoring solutions for industry, laboratory and local & government institutions.
Faithful to our principles: innovation & quality, social responsibility and shared values, we are committed to providing solutions at the highest standards.
The company has extensive knowledge in the development of complete turnkey systems.

Visit Website

POPULAR POSTS BY envea

ENVEA Presents the New LAS 5000XD In-Situ Laser (TDLS) Gas Analyzer

Press Release

ENVEA Presents the New LAS 5000XD In-Situ Laser (TDLS) Gas Analyzer

ENVEA Global Continues its Growth Story

Press Release

ENVEA Global Continues its Growth Story

Turnkey Emission Monitoring Solutions for Azomures Fertilizer Plant

Press Release

Turnkey Emission Monitoring Solutions for Azomures Fertilizer Plant

15 Mobile Air Quality Monitoring Stations for the State of Maharashtra

Press Release

15 Mobile Air Quality Monitoring Stations for the State of Maharashtra

ENVEA

Press Release

Olympic Games 2022: The Beijing Environmental Monitoring Center Expresses it’s Thanks to ENVEA

Press Release

A Brand-New Air Quality Monitoring Network

Get email updates

Sign up for the AWE newsletter

Keep up-to-date through the power of email and receive the latest environmental monitoring product information and newsletter emails from AWE - Monitoring and Analysing the Impact of Industry on the Environment

"*" indicates required fields

Country
*
This field is for validation purposes and should be left unchanged.

FEATURED ARTICLES

Press Release

Blackline Safety and NevadaNano Reach Milestone in Deployment of Industry-First Sensors

Press Release

The Benefits of Using Refurbished Parts in Your Lab

Advertisement

SOCIAL MEDIA

AWE on Facebook

https://www.facebook.com/AWEIMagazine/

Advertisement

SOCIAL MEDIA

AWE on Twitter

Avatar AWE International Magazine @aweimagazine ·
18h

At Lovibond® we have understood the importance of water for a long time, and since World Water Day and its motto “The Value of Water” it has become clear: we are living in the middle of a global water crisis.
https://lnkd.in/eB8FAFdc

#aweinternational #lovibond #tintometer #water

Reply on Twitter 1622543763917750273 Retweet on Twitter 1622543763917750273 Like on Twitter 1622543763917750273 Twitter 1622543763917750273

Advertisement

SUBSCRIBE

Stay up to date with our newsletter

    • Keep up-to-date with Europe’s largest audited environmental monitoring magazine

 

    • Delivering the latest information on new products and emerging technologies related to industrial environmental monitoring.

 

This field is for validation purposes and should be left unchanged.

Subscribe

SUBSCRIBE TO AWE MAGAZINE

5 reasons to subscribe to our digital and print package

  • Stay up to date from anywhere in the world, with instant access to the latest issue straight from your phone, tablet or laptop.
  • Trust that you’re getting the best content from our range of internationally accredited authors.
  • Get full access to our archives and see how the environmental monitoring landscape has evolved with us over the years.
  • Enjoy our monthly newsletter curated with up-to-the-minute news and a selection of editor’s top picks.
  • Hot off the press and straight to your door – look forward to your own glossy copy of AWE, delivered five times a year
Subscribe View Subscription levels

STAY SAFE & INFORMED

Subscribe to the latest environmental monitoring articles, news, products and regulations

Find out more

Stay up to date with our newsletter

  • This field is for validation purposes and should be left unchanged.

ABOUT

  • About AWE
  • Advertise
  • Contact Us

YOUR ACCOUNT

Sign In Register Account Subscribe to AWE

RESOURCES

Request Media Pack

CONNECT

ACCREDITATIONS

Copyright Bay Publishing 2023. All Rights reserved.

Designed & Built by:
  • Terms & Conditions
  • Privacy Policy
  • Cookie Policy
We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. By clicking “Accept”, you consent to the use of ALL the cookies.
Cookie settingsACCEPT
Manage consent

Privacy Overview

This website uses cookies to improve your experience while you navigate through the website. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may affect your browsing experience.
Necessary
Always Enabled
Necessary cookies are absolutely essential for the website to function properly. These cookies ensure basic functionalities and security features of the website, anonymously.
CookieDurationDescription
cookielawinfo-checbox-analytics11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Analytics".
cookielawinfo-checbox-functional11 monthsThe cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional".
cookielawinfo-checbox-others11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Other.
cookielawinfo-checkbox-necessary11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookies is used to store the user consent for the cookies in the category "Necessary".
cookielawinfo-checkbox-performance11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Performance".
viewed_cookie_policy11 monthsThe cookie is set by the GDPR Cookie Consent plugin and is used to store whether or not user has consented to the use of cookies. It does not store any personal data.
Functional
Functional cookies help to perform certain functionalities like sharing the content of the website on social media platforms, collect feedbacks, and other third-party features.
Performance
Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors.
Analytics
Analytical cookies are used to understand how visitors interact with the website. These cookies help provide information on metrics the number of visitors, bounce rate, traffic source, etc.
Advertisement
Advertisement cookies are used to provide visitors with relevant ads and marketing campaigns. These cookies track visitors across websites and collect information to provide customized ads.
Others
Other uncategorized cookies are those that are being analyzed and have not been classified into a category as yet.
SAVE & ACCEPT