Acquisition of IPH and Brammer alongside Advent.
Creation of a leading European distributor of industrial supplies
through the combination of IPH and Brammer.
FR
GB
Sycomore Corporate Finance advised IPH, Brammer and their management
Advent International, which took Brammer private from the London Stock Exchange earlier this year, completed the acquisition of IPH today to enable this combination.
The combined entity, IPH-Brammer, will draw on the complementary strengths and legacies of both businesses to provide its customers with an expanded technical product range and offering, supported by an enlarged geographic footprint across Europe and strong brands such as Brammer, Minetti, Zitec or Orexad. With close to €2.2 billion in combined revenues and more than 8 000 employees, IPH-Brammer has operations in 23 European countries and will be headquartered in London.
Rationale
Since its creation 30 years ago, IPH has become one of the leading European industrial supply distribution networks, generating sales of EUR 1.3 billion in 2016 and employing 4,600 staff across 9 European countries. Specialising in power transmission, machining, assembly, tooling, personal protection and workshop equipment, the group is the market leader in France and Spain, ranks second in the Netherlands and is also the power transmission leader in Germany and Italy. IPH maintains highly customer-focused relations with over 100,000 clients, ranging from smaller businesses to multinational companies, thanks to its strong local presence and contact with its technical-sales teams. The group offers a multi million range of products provided by 15,000 suppliers through its omnichannel access and cutting-edge logistics.
Founded in 1984, Advent International is one of the largest and most experienced global private equity investors. The firm has invested in 325 private equity transactions in 40 countries and as of December 31, 2016, it 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; 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.
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 £754m.