Industri Kapital, a European private equity firm, has sold Consolis, a European concrete company, to private equity fund LBO France, for an undisclosed sum.
According to Christopher Masek, a partner at Industri Kapital, the firm achieved a money multiple “just shy of three times” and a triple digit internal rate of return from selling the business to LBO France.
KBC Financial Products provided financing to LBO France. Industri Kapital’s financial advice came from Rothschild, KPMG and Bain & Company, while legal advice came from White & Case.
LBO France is a Paris-based financial sponsor that invests in companies worth between €10 million and €1.5 billion.
Industri Kapital, which invests mainly in mid-market companies, manages almost €4 billion in fund commitments. Last week it bought Attendo, a care services company for older and disabled people in the Nordic region, for an undisclosed amount.