OREFI goes to Investcorp

PPM Capital is selling OREFI Participation, a European distributor of industrial parts, to Investcorp. Financial details of the transaction have not been disclosed.

PPM Capital backed the buyout of the business in 1998 for an undisclosed sum. Founded in 1987, OREFI distributes a wide range of industrial products through its own network of 90 branches in France and The Netherlands. It has a product range of some 350,000 items that include power transmission equipment, cutting tools and abrasives, welding equipment, hand and power tools, handling equipment, fixings and adhesives and personal protection equipment. OREFI employs 1,240 people in France and The Netherlands. The company’s 2005 turnover was €293.5m.