Bridgepoint announced that it had reached agreement with Eurazeo PME on the acquisition of The Flexitallic Group (formerly FDS Group), global market leader in sealing product technology for the oil, gas and energy sectors. The transaction, which is subject to competition clearance, is scheduled to complete in July.
Bridgepoint will acquire a majority stake in the business, working alongside management and Remi Toledano, CEO of Flexitallic since 2010. Flexitallic is an international market leader in specialised high value sealing solutions and products, most notably for the oil and gas industry’s upstream and downstream operations as well as for the power industry. The group, with operations in the US, Canada, China, France, UK, UAE and Kazakhstan, has a network of 750 specialist distributors, allowing it to meet client needs under all circumstances. It is well known for its innovation of high performing products such as its Thermiculite®, Sigma and its new semi-metallic joint ‘Change’ launched in 2012.
