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Bridgepoint picks up Austrian car parts retailer and backs UK TV company buy-out

European buy-out firm Bridgepoint has bought Austria's largest car parts retailer in a secondary deal from German turnaround specialist Orlando, taking its total number of standalone acquisitions for the year to date up to five. It has also financed the purchase by its portfolio company All3Media of TV production business Company.

The car parts retailer, Forstinger Handel und Service operates 113 outlets across the country. It was thrown into receivership in 2001 after a failed attempt to diversify but was subsequently picked up by Orlando, which installed the current management team.

The business is forecast to achieve net sales in 2004 of E125m and extend its market share to 35 per cent. Details of the transaction have not been disclosed.

'Forstinger's new management has successfully refocused the business and is entering a new stage in its development," says Alastair Gibbons, the partner responsible for Bridgepoint investment activities in the German-speaking markets.

'Bridgepoint will now work with management on expansionary growth both domestically and internationally as well as enhancing performance in purchasing, logistics and like-for like sales from Forstinger's existing stores,' he added.

The All3Media acquisition makes the firm the largest independent television production groups in the country. Bridgepoint backed the management buy-out from Chrysalis in 2003.

Bridgepoint is one of the most active European buy-out groups, with a strong presence and consistent pace of investment in a number of regions. It is expected to begin raising a new fund at some point in 2005 with a target similar to its E2bn predecessor.

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