Investcorp and Polyconcept management are to acquire Polyconcept from BC Partners in a secondary buyout transaction. Financial details of the transaction have not been disclosed. The completion of the transaction is subject to antitrust clearance and closing is expected at the end of May.
Polyconcept is a distributor of promotional, lifestyle and gift products. BC Partners Funds, together with Polyconcept management, acquired the company from Dutch listed conglomerate Hagemeyer in July 2000. The acquisition was financed through equity provided by the BC European Capital Funds and management. Senior and subordinated acquisition financing was provided by the Royal Bank of Scotland and the Caisse de Depot et Placement du Quebec. Total financing was around €300m.