CMS has advised CM-CIC Capital Finance on the acquisition of a minority stake in Primus for an amount of € 20 million, alongside controlling shareholder Andlinger, an international private investment company. Andlinger has been the owner of Primus since 2003.
Primus is a world player in industrial laundry systems. Primus produces washing machines for, inter alia, hotels, hospitals, ships, oil platforms, launderettes and the army. With this injection of growth capital, Primus aims to turn over 100 million euros next year. It is the intention of Primus to expand its operations in China.
CM-CIC Capital Finance is a French private equity firm and is part of the joint venture between Crédit Mutuel and CIC (formerly Crédit Industrial et Commercial).
The CMS team was led by corporate partners Roman Tarlavski and Jacques Isnard (CMS France) and further comprised Damia van Laarhoven, Helen Rodwell (CMS Czech Republic), Marc Flamand (CMS Fance), Katarzyna Kuszewska, Chloé Dellandrea (both CMS Luxembourg), Virginie Fremat and Vincent Dirckx (both CMS Belgium).