TowerBrook Capital Partners, L.P. Announces Investment in GSE

Private equity firm TowerBrook Capital Partners, L.P. ("TowerBrook") today announced that funds managed and advised by TowerBrook will acquire a 67% shareholding in French engineering company GSE for an undisclosed sum. This transaction will also allow GSE's management team to increase their share in the Company's equity and their contribution to the business. The transaction will be effective upon clearance by the European Union's competition authorities.

GSE is headquartered in Avignon, France and is a European leader for large production and industrial building construction. The Company specialises in the delivery of turnkey construction solutions in the industrial, services and logistical sectors. For over 30 years, GSE has been successful in developing its role as a leading provider of reliable, flexible and quality solutions to the turnkey contractor profession. The company is located in 15 countries across the world and employs 290 people. In 2005 GSE had a turnover of approximately €450 million.

Commenting on the acquisition, Ramez Sousou, Co-CEO of TowerBrook said: "Our interest in GSE is driven by the company's excellent market positions as well as its potential for further growth. GSE is an outstanding company with great management that is well positioned to become the world leader in a sector that requires increasing project management skills, technical know-how, and creativity. Under the guidance of Jean-Pierre and Michel Hugues, GSE was the pioneer in its sector. Today's announcement allows them to continue innovating to service their worldwide clients more effectively. We are proud to be associated with this deal."

Jean-Pierre and Michel Hugues, Co-Founders of GSE said in a joint statement: "The GSE team is delighted with this news. By accessing TowerBrook's capital, GSE will be able to expand its European leadership position, invest in new technical concepts and become closer to its clients at an international level. TowerBrook, as a partner specialised in growth strategies, will significantly contribute to our further development."

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