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EMZ backs again IPH for a new phase of European expansion

EMZ backs again IPH for a new phase of European expansion

EMZ renews his confidence to the Management team at the occasion of the new LBO conducted by PAI Partners.

IPH is one of Europe’s leading distributors of industrial supplies. Thanks to organic and external growth, the company has managed to become the largest player in France, with a market share of close to 10%.  External growth has started at the European scale, and the company has already acquired strong positions in the Benelux and in Germany. In a still very fragmented market, there will be many acquisition opportunities in the market.

During the previous LBO, EMZ had participated in the financing of each of the transforming acquisitions, allowing the group to grow sales from €300 million in 2005 to over €850 million in 2012. The unitranche financing of the new LBO, featuring a full bullet amortising, will allow to allocate cashflow to build-up. On top of its investment in the unitranche, EMZ also co-invested in equity alongside PAI Partners.