UK/US based private equity firm TowerBrook Capital is to acquire tower crane sales and rental group Uperio from its current private equity owners LFPI group, Sofina and Gigarant, and the senior management team, who have owned a controlling interest in the company since 2019, when Arcomet was merged with Matebat to create Uperio. The agreement for the share sale was signed on Wednesday (2nd June 2021) and is expected to complete this summer.

Chief executive Philippe Cohet said: ”Today we are opening a new chapter in the history of the group with this shareholder transition. The entire Uperio team would like to thank LFPI, Sofina and Gigarant for their support in the various stages of building our business. The arrival of TowerBrook in our capital allows us to aim for new ambitions, internationally and in other sectors of activity related to our basic product, the Tower Cranes”.

Fabien Bismuth of LFPI Gestion added: “After several years of ownership and construction of Uperio, we are proud to have contributed to the development of two national groups, through organic and external growth, to make them become a world leader, supplier of premium solutions and equipment for construction sites. Today, we are pleased to have reached an agreement for its sale to this new shareholder, which will allow the continued deployment of the global strategy driven by high-quality management.”

TowerBrook Capital owns a diverse portfolio of businesses, and last month acquired the AA – UK’s Automobile Association.