Equistone and BPI completed a €45m investment in Novares.

Investment firms Equistone and BPI completed a €45m investment in Novares, a French manufacturer of car parts. "The results for 2019 and for the beginning of 2020 have shown that the foundations of the Novares Group are solid. But the Covid-19 crisis has taken a serious toll on our cash flow, which has been largely factored. The overriding aim of being able to ensure deliveries to our Customers, as of May, has forced us to seek legal recourse. We are now resuming our operations in Europe, and are confident that a solution will be found in the coming days to enable the company to restart activities at its American plants, as well as to ensure the future of the Novares Group in the long term," Pierre Boulet, Novares CEO.