Our first deal in France took place in February 2003 with the buyout of
Plasto, subsidiary of French pharmaceutical group Fournier. Plasto is
specialized in technical self-adhesive tapes on four main markets :
automotive, retail, industry and healthcare. 2007 sales is above 75
In a competitive environment (over 22 buyout offers), the Noramptco
team was selected for its industrial and turnaround expertise. The
results are encouraging: after 4 years of losses, Plasto has reached
breakeven in 2003, and shows strong operating profit.
Before seeking growth, the Noramptco
team rationalized the
organization and the activities to seek industrial productivity,
control cash flows and reduce indirect expenses. The in-house team was
renewed and motivated to participate to the turnaround.