Frans Bonhomme

Activity Plastic pipe distributor Location France and Spain Acquired December 2005 Transaction value €893 million Sales* €711 million Employees Approximately 2,800 Cinven representatives Nicolas Paulmier, Geoffroy Willaume Senior management Président Directeur Général Directeur Administratif et Financier Directeur des achats Caroline Grégoire Sainte-Marie Philippe Ringelstein Jean-Louis Ott * 12 months ending December 2009 (unaudited) www.fransbonhomme.fr

Business description

Frans Bonhomme is France's leading distributor of plastic pipes and fittings to construction and public works markets and to plumbing tradesmen, operating from more than 400 outlets. When Cinven acquired the company, it had a 27% market share in France, serving over 120,000 customers and offering more than 30,000 products.

The business is propelled by three main drivers: spending on equipment for civil works projects and by public entities; EU regulations on water treatment, which tend to favour plastic substitution; and construction, maintenance, repair and improvement activity in general.

Cinven strategy

Cinven's original strategy for Frans Bonhomme – working with the management team – was to continue 'rolling out' the business in France and internationally. We have worked with the management team to increase the density of the network of outlets in France, targeting a significant number of new openings in the near term; to increase the company's presence in the greater Paris region where there is scope to gain market share; to widen the product range; and to focus on cost control in order to maximise margins.