Investcorp has completed its sale of IPH Group to Paris-based buyout shop PAI Partners. IPH Group is a distributor of industrial supplies in Europe. Investcorp acquired the company in June 2006. Investcorp said the deal generated some “210 million euros of realization proceeds.”
Investcorp, a global provider and manager of alternative investment products, announced today that it has completed the sale of IPH Group, a leading distributor of industrial supplies in Europe, to PAI Partners, a Paris-based European private equity firm in a deal that generated in excess of EUR 210 million of realization proceeds for Investcorp and its clients.
During the period of ownership by Investcorp, IPH Group tripled its sales from EUR 293 million to EUR 860 million and grew EBITDA from EUR 12 million to over EUR 62 million in 2012.
Maud Brown, Principal in Investcorp’s corporate investment team, commented: “IPH Group is an excellent example of how we can add value in our portfolio companies and transform a business from being a domestic champion to a successful pan-European leader. From the outset, we worked closely with the management team to build IPH Group’s presence in France. Since its acquisition of IPH Group in June 2006, Investcorp has supported three major add-on acquisitions by the company enabling it to build its leadership position and expand its international footprint. To achieve such growth despite the challenging economic conditions experienced across Europe is testament to the strength of our corporate investment team.”
IPH Group distributes a large range of industrial supply products and is represented in Europe by strong national networks, namely Orexad and Anfidis in France, Zitec in Germany, Biesheuvel Techniek in the Netherlands, D’hont in Belgium, and Novotech in Romania. The strength of these networks, which comprise over 250 outlets across Europe, has enabled the IPH Group to become recognised as a valued supplier for its industrial clients.
About InvestcorpInvestcorp is a leading provider and manager of alternative investment products. Investcorp has offices in New York, London and Bahrain and is publicly traded on the Bahrain Bourse (INVCORP). Investcorp has three business areas: corporate investment in the US, Europe and the Gulf, real estate investment in the US and global hedge funds. As at December 31, 2012, Investcorp had $11.5 billion in assets under management.