IPH GROUP acquired by PAI PARTNERS

In late 2012, PAI Partners signed an agreement to acquire IPH Group from Investcorp as part of a buyout transaction aimed at supporting the European industrial supplies distributor's next phase of development. The deal, which was finalized in March 2013 after receiving the necessary regulatory approvals, marked the exit of Investcorp after nearly seven years of ownership and value creation. Under Investcorp's ownership, IPH underwent a significant transformation, evolving from a primarily French player to a pan-European B2B technical distribution platform. Through several strategic acquisitions in France, Germany, the Netherlands, Belgium, and Romania, the group substantially expanded its geographic presence and product and service offerings. Between 2006 and 2012, revenue grew from approximately €293 million to nearly €900 million, while EBITDA increased more than fivefold. With this acquisition, PAI Partners aims to continue the consolidation strategy initiated by its predecessor and accelerate IPH's European development in a still-fragmented market. The transaction is consistent with PAI's strategy of investing in sector leaders with strong positions in resilient markets, offering opportunities for external growth. The fund plans to support the company in expanding its network, enhancing its logistics capabilities, and pursuing targeted acquisitions across Europe.

It is worth noting that the fund Investcorp took control of Iph Group through an LBO in 2006.