The private debt team of Tikehau IM acted as sole arranger and provider of financing for the acquisition of Flexitech, a supplier of brake hose products, by Sun Capital.
Established in France in 1960, Flexitech has over 50 years of operations experience and currently employs over 1,200 highly skilled full-time employees. Flexitech operates its own facilities in France, Romania, the United States, Mexico and Brazil, and supports its customers through local partners in China and India. Flexitech provides extensive product design, engineering and testing services to leading international automotive original equipment manufacturers (OEMs) including BMW, Daimler, Fiat-Chrysler, Ford, General Motors, JLR, Peugeot Citroën, Renault-Nissan and Volkswagen.
Cécile Levi-Mayer, Co-Head of Private Debt of Tikehau IM, says: “We are delighted to have been selected as sole partner on this financing of Flexitech, a worldwide leader in its segment, with further strong growth potential internationally and in particular in Asia. We thank Flexitech and Sun Capital for their trust and look forward to accompanying them”.
Lionel de Posson, Principal at Sun European Partners, says: "Flexitech has unparalleled experience in its sector with the ability to respond to the recent increase in customer demand for innovation, sophisticated service capabilities, an international footprint and world-class quality and delivery. One of the priorities will be to accelerate the company's expansion in Asia, while maintaining growth in its core markets in Europe and America. We look forward to working with the management team and taking Flexitech through the next phase of its development."