Founded in 1942, BakerCorp has more than 100 locations in North America and Europe. The Permira funds will back the current management team as they accelerate the growth of BakerCorp both in the US and internationally.
According to Permira, BakerCorp will focus on extending its product and service offering through its existing branch network and in new locations. BakerCorp plans to continue its expansion into new geographic regions in North America, Europe and other attractive international markets.
Richard Carey, partner and co-head of the Global Industrials Group at Permira, said: “BakerCorp exemplifies the type of business in which the Permira funds seek to invest – a strong market leader with a unique customer value proposition and numerous growth opportunities. We are delighted to be partnering with BakerCorp as the company seeks to accelerate its growth and international expansion plans.”
The Permira funds were advised by Morgan Stanley and Deutsche Bank Securities on the transaction.
The acquisition is expected to close by July 2011.
