3i Buys Etanco with $280M in Debt

British buyout shop 3i has secured 205 million euros ($280 million) in loans to back its acquisition of French building fastener and fixing company Etanco from IK Investment Partners, Reuters reported Wednesday. French banks CIC, Credit Agricole and Societe Generale are arranging the debt package. European private equity firm IK Investment Partners acquired Etanco in 2008 backed by 172 million euros of debt according to Thomson Reuters, publisher of PEhub.

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