Bridon, a U.K.-based portfolio company of Ontario Teachers’ Pension Plan (OTPP), has closed its merger with the rope business of Belgium’s Bekaert. No financial terms were disclosed for the deal, which was announced in December. The new ropes and advanced-cords company, Bridon-Bekaert Ropes Group, will be jointly owned by Bekaert and OTPP. It will have operations in some 17 countries. Teachers’ Private Capital, the private equity arm of OTPP, acquired Bridon in October 2014.
Rope businesses merge to form Bridon-Bekaert Ropes Group
The Bridon-Bekaert Ropes Group will begin operating today, 29th of June, following the successful merger of Bridon with Bekaert’s rope business.
The new business will employ approx. 2500 people in 17 countries combining unrivalled industry expertise, portfolio, scale and global reach.
The new Bridon-Bekaert CEO Bruno Humblet, said: “We are delighted to announce that the merger is now complete. The new group combines Bekaert’s existing strength in the regions of Americas and Australia and Bridon’s strong market position in Europe and the USA.
Bridon-Bekaert Ropes Group will offer a broad range of additional services, as well as strengthened expertise to customers, building on the proud history of both businesses in providing quality products and services.
Bruno Humblet said: “This combination will leverage the scale and complementary strengths of Bekaert and Bridon and will pursue value creation for our customers.”
With worldwide manufacturing operations, sales and distribution centres, BBRG will ensure accessibility and services within close reach, customized to specific local demands and challenges.
“We are looking forward to building the Bridon-Bekaert Ropes Group and business starts today. Our primary focus will be to deliver the very best performing products, accelerated innovation programs and unrivalled services,” added Bruno Humblet.
For further information about Bridon-Bekaert Ropes Group visit www.bridon-bekaert.com
Photo courtesy of Bridon