Advent to acquire IPH from PAI, will merge with Brammer

PAI Partners has closed its previously announced sale of IPH, a European industrial supplies distributor, to Advent International. No financial terms were disclosed. Advent is planning on merging IPH with portfolio company Brammer.


LONDON and PARIS, 12 June, 2017 – Advent International (“Advent”), one of the largest and most experienced global private equity investors, announced today that it has agreed to acquire IPH, a European industrial supplies distributor, from PAI Partners, a leading European private equity firm.

IPH distributes industrial supplies for maintenance and production applications in Europe. It offers power transmission products, machining solutions, industrial supply solutions and product-related services. IPH serves a range of industries, including heavy industry, chemical and pharmaceutical, food-processing, energy, transport, automotive, petrochemicals, and mechanical engineering industries. In 2016, IPH generated revenues of €1.3 billion.

Advent, which took private Brammer Limited (“Brammer”) from the London Stock Exchange earlier this year, intends to combine IPH with Brammer, to create a leading European distributor of industrial supplies, with over €2.1 billion in revenues.

The complementary geographic coverage, product knowledge, and breadth of offering will further strengthen the value proposition for customers and suppliers.

Shonnel Malani, Managing Director, Advent International, said, “We are pleased to undertake a positive strategic step in the industry by bringing together two leading companies – Brammer and IPH – and are committed to investing in their combined success.”

Nicolas Holzman, partner at PAI, said, “During our investment period, IPH has transformed into a leading pan European platform. Since 2013, IPH has concluded more than 50 acquisitions with the entry in 5 new countries and an improved product offering. These achievements have enabled IPH to double in size. We wish now all possible success to IPH, Brammer and Advent.”

Pierre Pouletty, Chief Executive Officer, Groupe IPH, added, “We at IPH are very pleased to join with Brammer, and with the support of Advent, commence an exciting new chapter for our growth. As allied companies, IPH and Brammer will offer customers and suppliers great benefits from the enhanced value proposition our combined businesses.”

Hermann Maier, Chief Executive Officer, Brammer, added, “This marks an important step for Brammer. I have no doubt the combination with IPH will help us become an even better distribution partner and employer. As a combined group we are now able to move forward from a position of great strength.”

The transaction is subject to antitrust and regulatory clearance.

About Advent International

Founded in 1984, Advent International Corporation (“Advent”) is one of the largest and most experienced global private equity investors. The firm has invested in more than 325 private equity transactions in 40 countries, and as of December 31, 2016, had €39 billion in assets under management. With offices on four continents, Advent has established a globally integrated team of over 180 investment professionals across North America, Europe, Latin America and Asia. The firm focuses on investments in five core sectors, including business and financial services; healthcare; industrial; retail, consumer and leisure; and technology, media and telecom. After more than 30 years dedicated to international investing, Advent remains committed to partnering with management teams to deliver sustained revenue and earnings growth for its portfolio companies.

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About Brammer Limited
Founded in 1920, Brammer is a leading pan European distributor of industrial maintenance, repair and overhaul products and services, including bearings, mechanical power transmission, pneumatics, hydraulics, tools and health and safety equipment. Brammer operates in 23 countries and in 2016 generated a turnover of £754 million.

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