Investcorp has sold its portfolio company IPH Group, a distributor of industrial supplies, to PAI Partners, a Paris-based European private equity firm in a transaction that generated in excess of €210 million of realization proceeds for Investcorp and its clients.
Investcorp first invested in the IPH Group in 2006 and during the term of its ownership IPH Group tripled its sales from €293 million to €860 million and grew EBITDA from €12 million to over €62 million in 2012.
IPH Group distributes a range of industrial supply products and is represented in Europe by the following national networks: Orexad and Anfidis in France; Zitec in Germany; Biesheuvel Techniek in the Netherlands; D’hont in Belgium; and Novotech in Romania. The company has approximately 3,000 employees and was founded in 1987. IPH Group is based in Lyon, France (www.group-iph.com).
“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,” said Maud Brown, a Principal on Investcorp’s corporate investment team. “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.”
Investcorp invests in mid-size companies operating in an array of industry sectors that have total enterprise values of between $200 million and $1 billion and are located in North America or Western Europe. The group has offices in London and New York (www.investcorp.com).
© 2013 PEPD • Private Equity’s Leading News Magazine • 3-5-13