Consortium Acquires TechnoMarine

A consortium of businessmen and investment groups has acquired 100 percent of the shares of Swiss luxury watchmaker TechnoMarine Group. The June announcement said the new owners include French businessmen Gilbert Ohayon and Jean Claude Yana, Credit Agricole Suisse Private Equity (acting in its own name and on behalf of private investors), and investment group COBEPA. Financing was underwritten by Swiss financial services firm UBS. The value of the transaction wasn’t released.

TechnoMarine founder Franck Dubarry was expected to remain until year’s end to work with the new owners and, said the statement, “remain active on the creative side.”

The new executive team is headed by Yana and Ohayon. Yana is a French entrepreneur based in Montreal who has had several successful venture and private equity investments. Ohayon is a veteran of Europe’s entertainment industry and has held executive posts with CBS/FOX and EMI Music.

Established in 1997 by Dubarry, a French advertising executive, TechnoMarine has sold over 2 million watches in 100 countries through some 2,000 points of sale. Its 2006 turnover was about $80 million, say published reports.