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Apax Partners announces a partnership with Thierry Lièvre, the majority shareholder of U10 Group

Paris, 19 September 2007 – Following the signing of an agreement between Apax Partners SA (Apax) and Thierry Lièvre, the founder and CEO of U10 Group, Funds managed by Apax, together with Altamir Amboise, are investing in the holding company controlling U10 Group. Pursuant to this agreement, Thierry Lièvre retains a majority shareholding of 50.1% in the holding company and remains CEO of U10 Group. This agreement is still subject to a takeover bid exemption from the AMF (French Market Authority) and to the approval of French anti-trust authorities.



The transaction is half-financed through equity and half-financed through a 5-year term loan from Natixis.



U10 Group, a leading distributor of non-food products, has led an active acquisition policy over the last few years (more than 10 acquisitions conducted since 2001).



Thierry Lièvre joins forces with Apax Partners, allowing the Group to enter a new development phase based on three strategic objectives:



- duplicate U10 Group's business model abroad;
- enhance organic growth; and
- pursue external growth in a selective way.



“In slightly more than 10 years, U10 Group has grown from 0 to over 200 million euros in sales. Today, I am pleased to partner with Apax, a financial investor who has extensive experience in the distribution sector and has proven its ability to accompany high-growth companies in the long run”, said Thierry Lièvre, founder and CEO of U10 Group.



“Apax Partners' philosophy is to work with ambitious entrepreneurs in our sectors of expertise. Thierry Lièvre, who has built a unique group in the non-food distribution market, perfectly fits with our investment strategy”, said Jean-Louis Rambaud, Partner of Apax Partners.



U10 announced its half-year results yesterday.

About U10



As a supplier of the international distribution industry, U10 is a value-added intermediary, specialised in the creation of a wide range of products and tailor-made services (turnkey products lines, supply chain, delivery to warehouses or shops, management of the shelf space at the points of sale).



The Group's offer is based on different products lines developed around household goods and personal leisure goods and accessories.



Present in France, Spain and China, the group employs 400 persons.
U10 is listed on Euronext Paris, compartment B (ISIN code: FR0000079147).





About Altamir Amboise



Altamir Amboise is a listed company that co-invests with the private equity funds managed by Apax Partners SA.



Altamir Amboise leverages Apax Partners' know how and investment strategy, which consists in investing in fast-growing companies across its sectors of specialization: Tech & Telecom, Retail & Consumer, Media, Healthcare, Business & Financial Services.



Altamir Amboise is a SCR (Société de Capital Risque) listed on the Euronext Paris Eurolist market, Compartment B, ISIN code: FR0000053837, ticker: LTA



For further information: www.altamir-amboise.fr




Media relations:
Agathe Heinrich - Marketing Director
Tel: +33 1 53 65 01 35
E-mail: agathe.heinrich@apax.fr



Investor relations:
Marie Ployart – Financial Communication
Tel: + 33 1 53 65 01 33
E-mail: marie.ployart@apax.fr





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