„M-2” Ltd shares sold to investor from France. The deal managed by JSC Prudentia
13 January 2010
In the end of December 2009, the acquisition was concluded by which a controlling stake of the leading road traffic safety tools provider in the local market "M-2" Ltd was sold to the strategic investor from France, GIROD INTERNATIONAL SAS, that is more widely known as Signaux Girod SA.
The deal value is confidential. Previous owners of the company were several individuals.
The previous owners of the company were advised by leading independent investment banking and financial advisory company IBS JSC Prudentia, while the legal adviser was the company Krodere & Judinska.
The new owners of "M-2" plan to extend the existing product and service range. The decision to buy "M-2" was made after careful examination and due diligence, which showed that the company has big potential for further development. The new owners of the business plan to keep all existing employees and even to add new ones.
Janis Lielcepure, Partner of Prudentia, informed media that the company chose investors whose proposed terms and strategic view on development were the most appropriate for "M-2" Ltd.
"M-2" Ltd was established in 1992 and is one of the largest companies in Latvia that is dealing with the road traffic safety tools segment. "M-2" turnover in 2008 was approximately 4,6 million EUR.Signaux Girod SA is a France based company that is operating also in Canada and several European countries.