AXA Private Equity acquires majority stake in FLEX GroupAXA Private Equity has acquired a majority stake in FLEX Group, a German manufacturer of hand-held power tools, from New York-based investment advisor GSO Capital Partners. The remaining stake has been bought by the current management team.
Founded in 1922, FLEX is a developer and manufacturer of professional-grade power tools used primarily in metal-working, stone-working, masonry and concrete. FLEX employs 230 people and had a turnover of around €60m in 2006, according to a statement. The company recently set up an additional sales entity in the US.
Prior to its acquisition by GSO Capital Partners in November 2005, FLEX was part of the Black & Decker Group.
AXA Private Equity is an AXA Investment Managers company that manages and advises private equity funds with assets in excess of €10bn. AXA Private Equity has offices in Paris, Frankfurt, London, Milan, New York and Singapore.
Copyright © 2007 AltAssets
Article is in the following categories:
Private Equity News» By News Type» Deal News
Private Equity News» By Region» Europe» Western Europe» Germany
Private Equity News» By News Type» Deal News
Private Equity News» By Region» Europe» Western Europe» Germany
