Advent International signs a deal to acquire IPH from PAI Partners

Transaction creates a leading European distributor of industrial supplies through the comination of Brammer and IPH.

LONDON and PARIS, 12 June, 2017 – Advent International (“Advent”), one of the largest and most experienced global private equity investors, announced today that it has agreed to acquire IPH, a European industrial supplies distributor, from PAI Partners, a leading European private equity firm.

IPH distributes industrial supplies for maintenance and production applications in Europe. It offers power transmission products, machining solutions, industrial supply solutions and product-related services. IPH serves a range of industries, including heavy industry, chemical and pharmaceutical, food-processing, energy, transport, automotive, petrochemicals, and mechanical engineering industries. In 2016, IPH generated revenues of €1.3 billion.

Advent, which took private Brammer Limited (“Brammer”) from the London Stock Exchange earlier this year, intends to combine IPH with Brammer, to create a leading European distributor of industrial supplies, with over €2.1 billion in revenues. The complementary geographic coverage, product knowledge, and breadth of offering will further strengthen the value proposition for customers and suppliers.

Shonnel Malani, Managing Director, Advent International, said, “We are pleased to  undertake a positive strategic step in the industry by bringing together two leading companies – Brammer and IPH – and are committed to investing in their combined success.”

Nicolas Holzman, partner at PAI, said, “During our investment period, IPH has transformed into a leading pan European platform. Since 2013, IPH has concluded more than 50 acquisitions with the entry in 5 new countries and an improved product offering. These achievements have enabled IPH to double in size. We wish now all possible success to IPH, Brammer and Advent.”

Pierre Pouletty, Chief Executive Officer, Groupe IPH, added, “We at IPH are very pleased to join with Brammer, and with the support of Advent, commence an exciting new chapter for our growth. As allied companies, IPH and Brammer will offer customers and suppliers great benefits from the enhanced value proposition our combined businesses.”

Hermann Maier, Chief Executive Officer, Brammer, added, “This marks an important step for Brammer. I have no doubt the combination with IPH will help us become an even better distribution partner and employer. As a combined group we are now able to move forward from a position of great strength.”

The transaction is subject to antitrust and regulatory clearance.


About Advent International

Founded in 1984, Advent International Corporation (“Advent”) is one of the largest and most experienced global private equity investors. The firm has invested in more than 325 private equity transactions in 40 countries, and as of December 31, 2016, 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; and 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.

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About Brammer Limited

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 £754 million.

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About IPH

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.

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About PAI Partners

PAI Partners is a leading European private equity firm with offices in Paris, London, Luxembourg, Madrid, Milan, Munich, New York and Stockholm. PAI manages €8.3 billion of dedicated buyout funds. Since 1994, the company has completed 61 transactions in 11 countries, representing c. €42 billion in transaction value. PAI is characterised by its industrial approach to ownership combined with its sector-based organisation. They provide the companies they own with the financial and strategic support required to pursue their development and enhance strategic value creation.

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Media contacts

Advent International
FTI Consulting UK
Fergus Wheeler/Louisa Feltes/Jess Gill
Tel: +44 203 727 1000

FTI Consulting France
Anna Adlewska/Astrid Villette
Tel: +33 1 47 03 68 10

Stéphanie Duraffourd/Emmanuelle Fourier-Martin
Tel.: + 33 1 47 23 90 48

PAI Partners
Greenbrook Communications: Matthieu Roussellier / Annabel Clay
Tel: +44 20 7952 2000
DGM: Michel Calzaroni / Olivier Labesse / Hugues Schmitt
Tel: +33 1 40 70 11 89

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