CROSS BORDER M&A - CASE STUDIES
BRAMMER expands its footprint in France
Background
Brammer plc is the leading European supplier of technical components and related services to the maintenance, repair and operations ("MRO") markets. The company is present in 16 countries through 347 locations across Europe and has more than 2,500 employees. Brammer is listed on the London Stock Exchange and generates sales of close to £500 million. Its strategy is to consolidate a very fragmented market throughout Europe.
Frenger's role
Frenger was initially mandated to manage Brammer's acquisition process in France where the group already had a significant presence and a network of 30+ branches. After conducting an extensive research and screening of the market, Frenger International approached a small number of carefully selected targets. These approaches enabled the initiation of discussions with a very succesful company in Clermont-Ferrand, Centre Roulement SA. After several months of negotiations and competition against other bidders, Brammer was chosen as the preferred acquirer. During that period frenger played a key role in building up the relationship with the vendors and reassuring them on Brammer's deal culture and post-acquisition integration.
The transaction was completed with Francois Longeroche agreeing to stay with Brammer for several years post transaction.
Conclusion
Following this success Frenger was asked by Brammer to manage its acquisition process in the UK market first and then in Germany.
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