Investment firm Intermediate Capital Group (ICG) has agreed to acquire Gerflor, an international flooring manufacturer, for an undisclosed amount.

Investment firm Intermediate Capital Group (ICG) has agreed to acquire Gerflor, an international flooring manufacturer, for an undisclosed amount.

The deal, with the support of Gerflor’s existing management team, achieves an exit for previous majority shareholder AXA Private Equity.

Francois de Mitry, managing director of ICG comments: ‘For ICG, this transaction is the outcome of a long-standing relationship with Gerflor as we have been invested in the group since 1992.’

Gerflor makes vinyl flooring for commercial and residential properties, and employs 2000 people across its 12 manufacturing plants.

Dominique Gaillard, managing director of AXA Private Equity comments: ‘Now strengthened and more robust, Gerflor has proven very resilient through the economic crisis and the group has even increased its investments to secure its future growth.’

Other minority shareholders including Barclays Private Equity and NiXEN Partners will sell their stake in the company through the deal.