Restructuring events
European Restructuring Monitor (ERM)
The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
On October 28th, the Commercial court of Beauvais announced the take-over of Anovo (4400 employees world-wide), a company specialized in the repair and recycling of electronic equipment, by the investment fund Butler Capital.
Butler capital has announced to take over all sites in France and all subsidiaries in other countries (UL, Poland, Spain, Switzerland, Belgium, Peru, Chile) excepted subsidiaries in Italy and Sweden. In the course of this merger, the entire workforce will decrease from 5,150 to 4,400. The new owner will dismiss 750 employees within the group including 392 in France. In France, the main sites concerned are Brive, Corrèze (140 job cuts), Angers (70) and Saint-Mathieu-de-Trévier, Hérault (32).
Butler Capital received the support of Anovo's works council.
Update 15.12.2011: The number of dismissals in Brive was reduced to 119 instead of 140. This brings the announced job losses to 371.
Eurofound (2011), Anovo, Merger/Acquisition in France, factsheet number 72691, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/72691.