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BAHRAIN-based Arcapita Bank signed a purchase agreement to acquire Compagnie EuropŽenne de Prestations Logistiques (CEPL), a leading European warehouse logistics service provider, from French private equity firm Sagard and current management.
Terms of the transaction were not disclosed. CEPL, headquartered in BŽville le Comte, France, operates across 23 sites in France and Germany and has approximately 2,200 employees.
Founded in 1998, CEPL provides clients with a single managed central location from which it prepares detailed orders for individual retail outlets on a national, pan-European or global basis.
The current management team, led by Thierry Ortmans, CEO and founder, and Akim Lamrani, COO, will continue in their current roles and have increased their equity investment in the business.
Atif A Abdulmalik, Arcapita's chief executive officer, said: "This is one of the few transactions of this size in Europe to have secured a leveraged buyout financing in these tough market conditions, which attests to the quality of the business, as well as the strong reputation that Arcapita has built within Europe."
