Management buyout
Office World News, Jun 2000
COSTA MESA, CA-MGE UPS Systems' management and employment has more than doubled its holdings in the company in order to strengthen its participation and build on its current success. Joining the increase of holdings, Schneider Electric has expanded its interest from 14 percent to one-third. In addition, the management buy-out funds of ABN and Legal & General Ventures now hold one-third of the capital.
"Driven by investments in Internet infrastructure, our revenues and profit have increased sharply. We forecast 30 % growth for the year 2000, with operating profits rising 51% from 9.5 to 11 % of revenues," stated JeanClaude Pucheu, CEO, MGE UPS Systems.
Copyright B U S Publishing Group, Inc. Jun 2000
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