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Private equity in action - Case Study

Flexitallic Group

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Country France
Region Île-de-France
Investor Eurazeo
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The Flexitallic Group is a leading maker of gaskets that provide high-quality seals in the energy sector. After Eurazeo invested in 2006, it gave unswerving support to Flexitallic’s international expansion and the development of newer and better products. The company now stands out as a leading supplier to the energy sector with products that can withstand temperatures of over 1,000°C.

Since Eurazeo’s investment, Flexitallic has grown over 40% a year and expanded in China, the Middle East and Central Asia. The group was bought by fellow private equity firm Bridgepoint in 2013 and is on target to double in size over the next five years as it continues to expand in Asia, Australia and South America.

Remi Toledano

CEO

The Flexitallic Group

The support of Eurazeo has enabled us to stand out in the eyes of industrial players. Quotation Marks Graphic
3x

increase in sales to €200m in 2013

90%

of sales generated internationally

What did the business need?

  • Capital for geographic and market segment expansion
  • Investment in R&D and in production facilities
  • Improved corporate governance

How did private equity backing create lasting value?

  • Bought and integrated Flexitallic’s US supplier, which was three times its size
  • Acquired complementary businesses in North America, to bring Flexitallic into the upstream sectors
  • Completed debt restructuring during downturn and refinanced to support continued growth
  • Orchestrated the move into new markets, including China, Kazakhstan and the Middle East
  • Implemented corporate social responsibility policies and rigorous financial discipline
  • Invested €12m investment in manufacturing and innovation

What outcomes did private equity investment achieve?

  • Established a global market leader in sealing technology for the oil, gas and energy sectors
  • Increased employee numbers to 1,250 in 2013 from 46 in 2006
  • Grew international sales to 90% of total revenues from 11%
  • Increased revenues to €200m in 2013 from €72m in 2009

More information

The Flexitallic Group

Eurazeo

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