Argos Soditic has acquired a majority stake in French saxophone maker Henri Selmer Paris.

Some 55 shareholders representing the fourth and fifth generation of descendants of Henri Selmer, who founded the company in 1885, have sold their stakes to the Paris-headquartered buyout firm.

Current management and some Selmer family members will reinvest in the business and stay involved in its running as part of the deal.

Purchase price was not disclosed, but Argos Soditic typically invests between €10m and €100m per deal.

Based in a suburb of the French capital, Henri Selmer Paris manufactures high-end saxophones, clarinets and mouthpieces for these instruments. Its customers have included John Coltrane, Charlie Parker and Bill Clinton.

Today it employs 500 people and sells its products in 60 countries. It has annual revenues of around $40m (€33.5m).

Argos Soditic was advised by Jeantet & Associés, Eight Advisory, Arsène Taxand, Estin & Co Efeso, Aecom, Zurich Insurance and Siaci Saint Honoré. The sellers were advised by KPMG, Fidal and GFP Avocets.

Argos Soditic has also confirmed that it has backed Dutch technology contractor Future Group, as reported in Real Deals in December.

The firm will become the majority shareholder in the Utrecht-based business, which employs 800 people and generates €60m in revenues.

The two deals are the fifth and sixth from Argos Soditic’s seventh fund, Euroknights VII, which closed at €520m at the end of 2017.

They follow acquisitions of aerospace services provider Revima, home fragrance business Lampe Berger, inflatable boat manufacturer Zodiac Milpro, and Italian food packaging group Fabbri Vignola.

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