FRANCE - OFI Private Equity Capital creates Transatlantic industrial sealing business

OFI PEC invested EUR 13.6m in equity in the buyout of Flexitallic, and now owns 55.5% of the newly-merged group. Capzanine and AXA Mezzanine invested both mezzanine and equity, in return for a 14.5% combined stake. Landsbanki and Société Générale arranged the senior debt package, which represented 54% of the deal's value.

Flexitallic designs, manufactures and distributes a range of industrial static sealing products for the oil and petrochemical industries. Siem designs and manufactures similar products for the same sectors, but also focuses on the nuclear industry.

Flexitallic generated revenues of EUR 56m in the year to the end of September 2007, bringing the group to a combined turnover of more than EUR 75m.

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• Topics
• Buyouts
• France
• Industrials