Inflexion is pleased to announce it has led the buyout of Astrak Group, a European specialist distributor of parts for construction equipment, with the founding family continuing to be involved with the business. The investment is being made from Inflexion Buyout Fund VI, which recently closed at £2.5 billion.
Fife-based Astrak was founded in 2003 in Denmark and has grown to become a market leader in undercarriage and wear parts for construction equipment, employing over 100 people across its seven locations across Europe. The company’s focus on service and quality has positioned it well in the value chain between leading OEM manufacturers and their highly fragmented customer base. The majority of sales are outside the UK with in-country presence in France, Germany and Denmark. The company benefits from a loyal client base of 14,000 who value Astrak’s high level of service to deliver the right products when they are needed, enabled by Astrak’s proprietary parts compatibility database.
There is significant scope to increase Astrak’s market share further in its current markets whilst expanding more widely across Europe. These growth plans will be pursued both organically as well as through select acquisitions in a fragmented European market.
It is a privilege to have been chosen as the first private equity partner for this rapidly expanding business, which benefits from a strong product offering and loyal international customer base. We look forward to working with the Astrak team to further grow this strong business’s offering and geographic footprint
From spotting an opportunity in the market nearly 20 years ago to becoming a true leader in the space, we know that the business has farther to go. Inflexion’s international presence combined with its track record for helping companies to grow sustainably is the right fit for us as we look to expand into new markets and consider further acquisitions. We are very excited to work together with Inflexion on this new chapter in our history.