Deal round-up 30/04/02

Close Brothers backs DFP MBO; Siparex makes seventh investment

Close Brothers backs DFP MBO

Close Brothers Growth Capital (CBGC) has led an MBO at Delta Fluid Products (DFP), a vales and fittings manufacturer based near Manchester. The private equity firm has provided debt and equity funding for the £6.25m deal, with management also providing equity for the transaction.

Current managing director Brian Travis is leading the MBO team at DPF. In the year to 31 December 2001, DFP achieved turnover of £12.3m and profits of £1.1m. Following completion of the deal, CBGC’s Garrett Curran will join DFP’s board. KPMG Corporate Finance advised CBGC on the MBO.

Siparex makes seventh investment

The Siparex Group has led an LBO at French construction firm Outinord. The funds Siparex Nord I and Siparex SPF III Middle Market have invested E5.3m in acquiring the holding company, Financière Concrete Expansion, alongside manager Guy Martinache and SPEF LBO, which invested E3m.

In addition to equity financing, senior debt was raised from ViaBanque and financing for operations has been received to facilitate the group’s product development and international expansion. The transaction is the seventh to be completed by the firm’s SPF III Middle Market fund, which is expected to close in May.