OTPP's Bridon and Bekaert close ropes business merger

Bridon, a U.K.-based portfolio company of Ontario Teachers’ Pension Plan (OTPP), has closed its merger with the rope business of Belgium’s Bekaert. No financial terms were disclosed for the deal, which was announced in December. The new ropes and advanced-cords company, Bridon-Bekaert Ropes Group, will be jointly owned by Bekaert and OTPP. It will have operations in some 17 countries. Teachers’ Private Capital, the private equity arm of OTPP, acquired Bridon in October 2014.

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