HSBC Private Equity has completed its first successful exit from a French investment since opening a Paris office in 2000, with the $240m (€223m) sale of Ampafrance, the baby stroller manufacturer, to Dorel, the Canada-based consumer products company.

Nigel Hammond, head of European investment for HSBC Private Equity, said: "The sale of Ampafrance represents a significant achievement." Successful exits boost a private equity firm's reputation, giving the management of target companies confidence in their ability.