Torqx acquires Fabory

The GP is currently deploying its debut fund, which closed on €150m in September 2017.

The vendor of the company is US-based supplier of maintenance, repair and operating products Grainger. It mandated Rothschild to explore a sale process in November 2019. The asset was marketed based on EBITDA of €10m, according to a report by Unquote sister publication Mergermarket.

Previous funding
AAC Capital Partners (formerly ABN Amro Capital) bought 82% of the company in December 2004 in a management buyout from the company's founders. The remainder of the shares were held by the company's management and small investors. At the time, ABN Amro's leveraged finance team provided the debt package. Bank of Scotland and NIBC Bank underwrote the company's €170m refinancing in 2006.

HgCapital wholly acquired Fabory from AAC and the management for €345m in 2007. The financing package, which included senior and mezzanine debt, was provided by the Bank of Scotland.

In November 2010, Hg sold its stake to Grainger.

Company
Founded in 1947, Fabory is a fasteners and bolts distributor based in Tilburg. It employs 1,100 people in 11 European countries.

People
Torqx Capital Partners – Harmen Geerts (managing partner).

Advisers
Vendor – Rothschild & Co (corporate finance).

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