European Capital Pulls in 1.6x Money Multiple on Permaswage
November 08, 2013
Bridgepoint and European Capital have sold Permaswage to Precision Castparts (NYSE: PCP). European Capital received €26.2 million ($35.2 million) with the sale after investing €22 million ($29.5 million) into the company in September 2007 through a second-lien facility. European Capital's realization represented a 9% IRR and a money multiple of 1.6x on its initial investment. Permaswage makes swaged permanent fitting systems for rigid tubing and pipes used on aircrafts.