Bain Capital sells FCI division for €765m

Bain previously sold FCI business unit Microconnections to Astorg Partners in 2011. The deal was believed to be valued at around €600m.

Previous funding
Bain acquired FCI for €1.067bn in October 2005. The deal was supported by a €695m debt package, including €60m of second lien and €235m of mezzanine, from Goldman Sachs and Bank of America.

Company
FCI's motorised vehicles division provides interconnection systems for applications in the motorised vehicles market. Its main products include connectors for the safety restraint systems, powertrain and electrical vehicles markets. The business generated a revenue of €692m in 2011, corresponding to around 62% of FCI's total revenue.

FCI, founded in 1988, manufactures connectors for the automotive and electrical markets. Based in Guyancourt, France, the company operates 20 manufacturing sites in Europe, the Americas and Asia-Pacific. It employs 14,000 staff and generated sales of €1.1bn in 2011.

Advisers
Vendor – N M Rothschild & Sons (Corporate finance); Goldman Sachs (Corporate finance); Latham & Watkins (Legal).
Equity – Deutsche Bank (Corporate finance); Cleary Gottlieb Steen & Hamilton (Legal).

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