Bahraini alternative investment manager Investcorp has completed the sale of a Europe-focused industrial supplies distribution firm for €210m (US$273m).
Investcorp said in a statement on Monday that ownership of IPH Group would be transferred to PAI Partners, a Paris-based private equity firm.
Since acquiring IPH in 2006, Investcorp has seen the firm triple sales to €860m and grown EBITDA from €12m to €62m.
“Our ability to secure a healthy return from the sale of IPH Group despite the ongoing turbulence in the euro zone market is evidence of our ability to identify appropriate exit opportunities,” said Mohammed Al-Shroogi, president, Gulf business, at Investcorp.
Read more: http://www.arabianbusiness.com/bahrain-s-investcorp-sells-industrial-supplies-firm-for-273m-491800.html
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