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Brammer and IPH unite to create a €2.2bn MRO giant

18 September, 2017

The European industrial equipment distributors Brammer and IPH have joined forces to form a single business, called IPH-Brammer, with close to €2.2bn in revenues and more than 8,000 employees in 23 European countries. The MRO (maintenance, repairs and operations) business will be headquartered in London, with Pierre Pouletty, former CEO of IPH serving as CEO of the merged operation, and Hermann Maier, former CEO of Brammer, serving as its chief operating officer.

The merger follows the acquisition of IPH by the venture capital firm Advent International, which took Brammer private from the London Stock Exchange earlier this year, paying £221.5m in cash. Advent’s acquisition of IPH, which was completed on 15 September, has allowed it to combine the two operations.

IPH-Brammer will draw on the strengths and legacies of both businesses to provide its customers with an expanded product range and offering, supported by an enlarged geographic footprint across Europe. Its  brands include Minetti, Zitec and Orexad.

Announcing the completion of the deal, Pouletty, said: “In the last four years, with the support of [IPH’s previous private equity owner] PAI Partners, IPH has transformed into a leading pan-European company achieving more than 50 acquisitions, entering five new countries, building an e-business platform and creating a world-class European group management team. Merging IPH and Brammer is a major step for the European industrial supplies market and a landmark in the evolution of the two companies.

“The skills and assets of both businesses give IPH-Brammer a strong foundation for future growth,” he added. “Leveraging our combined knowledge, technical skills and experience, especially in serving key accounts, IPH-Brammer is uniquely placed to take advantage of the exciting opportunities in our markets. The support of our experienced investor, Advent International, will further aid our ability to continue growing both organically and through acquisitions.”

Pouletty: a strong foundation for future growth

According to IPH-Brammer COO, Hermann Maier, the new business “will offer its clients enhanced technical knowledge – in power transmission, in particular – services and product availability across Europe. We have the skills, knowledge and drive to continue to innovate, take advantage of market opportunities and ultimately offer an unbeatable customer proposition.”

Brammer was established in 1920 in Leeds in the UK, and has grown through a combination of organic growth and acquisition. In 2006, it combined its businesses under the Brammer brand. With headquarters in London, and a strong presence in the UK, German, French, Spanish and Benelux markets, Brammer generated more than €0.9bn in revenues in 2016. Its core strengths lie in bearings and power transmission. It also has a successful business in tools and maintenance products.

The IPH Group was established in 1987 in Lyon, France, and has grown through acquisition and organic development, especially through its relationship with key account customers. From its origins as a generalist distributor, IPH has refined its offering through acquisition, building a strong power transmission position in many countries. With €1.3bn in revenues, and headquarters in Paris, IPH has a strong presence in France, Germany, Italy, Benelux and Spain.

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