November 30 , 2005 (Paris) - Sagard has signed an agreement to acquire a majority holding in Souriau from AXA Private Equity. The Souriau management team, headed by François Calvarin, will make a significant investment in this secondary LBO which is financed by a debt package provided by Société Générale. The closing of this transaction remains subject to governmental authorisations, local competition and administrative clearances.

Souriau was founded in 1917 and is Europe’s leading connector manufacturer dedicated to the industrial, military and aerospace markets. The group is active across Europe, North America and in Asia generating revenues of approximately €160 million in 2004/5.

Previously part of the FCI group, Souriau was acquired by AXA Private Equity in April 2003. Since that date an independent Souriau, with the support of its shareholder, has successfully accelerated its development whilst consolidating its international technological and industrial leadership.

Sagard intends to support Souriau and its management team over the second phase of its independent existence. This phase will be focused upon driving the international development of the group to transform it into a global leader while consolidating its existing client and market positions. In particular Souriau aims to play an active role in the ongoing consolidation of this fragmented sector.

“We are delighted to be supported by Sagard going forward” commented François Calvarin, the CEO of Souriau. “This change comes at a key time for us. AXA Private Equity was a highly supportive shareholder and had the vision and courage to support us boosting our investment plans thereby enabling us to launch a dynamic growth strategy. We feel that Sagard with their industrial focus and long term investment horizon are the ideal partner to accompany us over this next phase of our development. We chose Sagard because of the quality of the industrial approach of their team and network, their commitment to the development of Souriau and because fundamentally their culture which stems from the tradition of family owned businesses is well aligned with Souriau’s culture.”

Frederic Stolar, the partner who led the transaction for Sagard noted “Souriau is a very important transaction for Sagard. The spirit of this industrial project is fully in line with the previous eight transactions that we have closed and we are delighted to be associated with an excellent management team with a very clear strategic vision and development plan. In line with our strategy Sagard intends to dedicate the necessary resources and support to assist Souriau in its international development.”

“We are very pleased with the successful conclusion of our association with Souriau and proud that over our three years as majority shareholder we have contributed to the reinforcement of the industrial potential of Souriau and the renewal of the product range laying solid foundations for the future. The management team is outstanding and we are convinced that they will be successful in delivering continued growth,” said Lise Fauconnier of AXA Private Equity.