Carlyle has entered into exclusive negotiations to acquire France-based Envea, a manufacturer of process monitoring systems, in a deal that values the company at approximately €186m.

Carlyle Europe Technology Partners IV, the €1.35bn fund that closed in 2019, would acquire 28.2% of the shares in the business from founder François Gourdon and key executives, through a special purpose vehicle. Approximately 84% of those shares are set to be bought for cash at a price of €110 per share, Carlyle said in a statement, with the remainder being rolled over to the SPV at the same unit price.