Axa arranges Europe’s largest unitranche financing

Axa Private Equity has arranged a €220m facility for PAI Partners’ acquisition of industrial supplies distributor IPH in the largest financing of its kind in Europe to date

Axa Private Equity has arranged a €220m unitranche facility for PAI Partners’ acquisition of industrial supplies distributor IPH, representing the largest financing of its kind in Europe to date.

France-based IPH was sold to Parisian buyout house PAI Partners in December 2012 by Bahrain-based private equity firm Investcorp for an undisclosed sum. IPH had revenues of about €900m in 2011.

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