Mezzanine Management makes third realisation of 2007(2)

Mezzanine Management, Europe’s oldest independent mezzanine investor, has sold XServ, a US provider of maintenance services to chemical and industrial facilities, to Texan trade buyer The Brock Group.

The Brock Group, one the largest providers of industrial maintenance services in the US, has bought XServ from Mezzanine Management for an undisclosed amount. JPMorgan and Bank of America provided debt for the deal.

 

The deal is Mezzanine’s third realisation of 2007. The firm recently sold its stake in Telediffusion de France, a French television and mobile phone transmission company, to a consortium led by Texas Pacific Group for €3.3 billion ($4.3 billion). It had invested mezzanine in support of the buyout in 2003 when Charterhouse Capital bought the company for €1.9 billion.

 

Founded in 1988, Mezzanine typically invests between €10 million and €50 million in each deal and is now investing its fourth fund. The firm has offices in London, Paris, Frankfurt and Stamford and has invested €1.3 billion to date.