> Investcorp acquires PPE manufacturer
Investcorp acquires PPE manufacturerPosted on 16/05/2006
Global investment group Investcorp has announced the completion of negotiations to acquire Orefi Participation, a leading manufacturer of personal protection equipment (PPE).
In addition to producing PPE, Orefi also produce industrial tools and abrasives, fixings and adhesives.
The company was established in 1987 and now boasts a network of 90 branches throughout France and the Netherlands, retailing the firm's range of 350,000 items.
No figure was released for the value of the deal, which is subject to regulatory approval, but is expected to close in June 2006.
Orefi's President and Chief Executive Officer Pierre Pouletty said: "Investcorp is the ideal partner and will bring us the financial support to pursue our European consolidation strategy.
"We are looking forward to embarking upon this new phase of development. The outlook is highly positive for Orefi, its employees, customers and business partners."
Orefi employs 1,240 people in France and the Netherlands, generating turnover of €293.5 million in 2005.