IPH Group, a Lyon, France-based distributor of industrial supplies, has been sold to private equity firm Advent International. Terms were not disclosed.
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 bought IPH from PAI Partners, which had acquired the distributor in 2013. Advent said it plans to combine IPH with UK-based MRO distributor Brammer to create a company with more than €2.1 billion (US$2.4 billion) in sales.
"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," said Shonnel Malani, managing director, Advent.