UGGC & Associés legal counsel for the takeover of Chimiotechnic by Orapi

Orapi, producer and retailer of hygiene and maintenance products, acquires Chimiotechnic, producer of hygiene and detergent products. Located in Vénissieux, Rhône area, Chimiotechnic registered some losses within the two past years. In 2007, it realized a 25 M€ turnover for a total staff of some hundred salaries. Paul Mazars, CEO of the company, currently owns 60% of the capital while the bottom line is detained by three other individuals. Paul Mazars was the majority shareholder since 2002. Located in Saint-Vulbas in Rhônes-Alpes area, Orapi is listed on Eurolist C and registered some 57,9 M€ turnover in 2007 and a net margin of some 2,5 M€. With this operation, Orapi realized its third acquisition in a row after the takeover of Gramos Applied UK and DACD last year. "We forecast a return to financial balance within the current year", indicates Henri Biscarrat, General Secretary of Orapi. Pascal Squercioni, partner, counseled Chimiotechnic for its transfer concerning all corporate law issues.