Stirling Square Capital Partners has signed an agreement to sell Global Design Technologies (GDT) to Bridgepoint for $343m. GDT is a France/US-headquartered manufacturer of swaged permanent coupling systems for rigid tubing and pipes used in the aerospace, defence and power markets. The business was created through the simultaneous management buyouts of Permaswage of France and Deutsch Metal Components of the US, by Stirling Square in January 2005 at a total enterprise value of $125m.
Idinvest is currently investing from its €350m vehicle, which held a final close in October 2019
Sale ends a six-year holding period for EQT, which bought the company via EQT Expansion Capital II
In November 2018, KPMG announced it would no longer provide consultancy work for its audit clients
Deal is based on an EV of €1.4bn and will see minority owner Kirkbi maintain a stake