European Capital provides acquisition finance to Flexitallic

Texas-based Custom Rubber Products is a manufacturer of elastomer, phenolics and thermoset plastic products for oil and industrial markets.

The investment took place alongside a commitment from the private debt team of Axa Private Equity.

Previous funding
European Capital first invested in the company in May 2012, providing $26m worth of multi-currency (USD, CAD, EUR) unitranche bonds to support Flexitallic's restructuring and the acquisition of Canada-based AGS Group.

Flexitallic is majority owned by Eurazeo PME (formerly OFI Private Equity), which acquired the company in October 2007 for €140m. Axa Private Equity and Capzanine provided mezzanine financing, while Landesbanki and Société Générale provided senior debt. The overall debt arranged for the transaction amounted to €75m.

Company
Flexitallic is a Paris-based manufacturer and distributor of high-end sealing solutions. It formerly traded under the name FDS Group. It operates manufacturing plants in the US, Canada, Germany, France, China and the UK.

People
Managing director Tristan Parisot led the deal on behalf of European Capital. Remi Toledano is president and CEO of Flexitallic.
 

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• Topics
• Portfolio management
• Industrials
• France
• Eurazeo
• Acquisition finance
• France