Investcorp, a global investment group with offices in Bahrain, New York and London, has signed an agreement to acquire a leading European distributor of industrial parts.

Orefi Participation, headquartered in France, distributes industrial products through its own network of 90 branches in that country and in the Netherlands.  The product range includes power transmission equipment, industrial tools, personal protection equipment and abrasives and adhesives. The company, which employs 1,240 people in France and the Netherlands, reported a 2005 turnover of 293.5 million euros.
Investcorp chief operating officer Gary Long said: “We are committed to supporting Orefi in its development in Europe.  In particular, we will look to developing partnerships between Orefi and the industrial supply business of Auto Distribution, the French auto and industrial parts distributor Investcorp acquired in March, in order to consolidate a market leadership position in Europe.”
Orefi president and chief executive officer Pierre Pouletty commented: “Investcorp is the ideal partner and will bring us the financial support to pursue our European consolidation strategy.  We are looking forward to embarking upon this new phase of development.  The outlook is highly positive for Orefi, its employees, customers and business partners.”
Investcorp has four lines of business, namely private equity investment, real estate investment, hedge funds and venture capital. 
It was established in 1982 and now manages total investments in alternative assets of around $9.5 billion.