The Carlyle Group has teamed up with Eurazeo to win the €400m ($434m) bid for Terreal, a French roof tiles business owned by Saint-Gobain, the French building materials group.

Eurazeo, the french private equity firm, dropped out as a sole bidder for the same business in May when its first round offer was deemed too low but returned to support the deal at a late stage. Carlyle selected Eurazeo as a partner because of its knowledge of Terreal. Aside from having done three months of due diligence, Eurazeo also owned a stake in Terreal in the late 1980s.