Investcorp has completed the sale of IPH Group, a distributor of industrial supplies in Europe, to PAI Partners, a Paris-based European private equity firm.
The deal generated in excess of EUR210m of realisation proceeds for Investcorp and its clients.
During the period of ownership by Investcorp, IPH Group tripled its sales from EUR293m to EUR860m and grew EBITDA from EUR12m to over EUR62m in 2012.
Maud Brown, principal in Investcorp’s corporate investment team, says: "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.
