The Company

AVO Carbon Holdings, Sarl., Luxembourg City, Luxembourg

The Industry

Carbon components for electric motors

The Situation

It was the winter of 2009, the height of the financial crisis, and French conglomerate Carbone Lorraine (now Mersen) was looking to exit its automotive and consumer business. We knew the industry from prior dealings and put together an independent investor group to purchase the company as a stand-alone entity.

Our Value Added

With our help, the company was able to recreate all back office corporate functions in its eight plants around the world, including treasury, HR, accounting and IT. We completed the company's global footprint with tuck-in acquisitions in Korea and China so that it could follow customers anywhere. At the same time, the company expanded its strategic growth initiatives into adjacent areas such as inductors. The company continues to pursue complementary product lines and assemblies, marrying technological know-how from advanced economies with lower cost manufacturing in emerging markets.

The Result

The world's leading global producer of carbon components and assemblies for small electric motors. FPH and our co-investors plan to grow AVO indefinitely.