Private Equity Firm To Acquire Gerflor

Paris, France, Feb. 25, 2011 -- Private equity firm Intermediate Capital Group has agreed to acquire Gerflor from AXA Private Equity, with the support of Gerflor’s existing management team, headed by its CEO Bertrand Chammas.

Other minority shareholders (including Barclays Private Equity and NiXEN Partners) will also sell their stake in the company.

This follows a period of five years where AXA Private Equity has actively supported the Gerflor management to expand the business through acquisitions and investment in organic growth.

Over the last five years, Gerflor has accelerated its diversification into new, high value-added areas and has broadened its geographical footprint. Gerflor increased its sales from $495 million in 2006 to $618 million in 2010, achieved through targeted acquisitions, significant reinforcement of its sales force and by investing close to €60 million in its industrial equipment.