Foseco

Activity
Industrial consumables
Acquired
Sep 2001
Realised
May 2008
Sector
Industrials

Business
Cinven led the €326 million buyout of Foseco from BP in September 2001.

Foseco consisted of five manufacturing and chemical businesses, operating globally, providing services and consumables to the foundry and steel industries.

Strategy
The strategy was to focus the business on the core Foseco operations by selling the non-core divisions, and to drive operational improvements through a series of initiatives, including rolling-out recently developed products globally, and exploiting the growth in non-ferrous foundry activity.

Outcome
Foseco sold its three non-core divisions, and focused on the development of its core consumables business.

The core business benefited from the increased management focus and earnings expanded as a result of the strategic initiatives identified at the time of the buyout.

Foseco was successfully floated on the London Stock Exchange in May 2005 providing Cinven with a partial exit for a very successful investment. In May 2008, Cinven achieved a full exit when the company was acquired by Cookson plc.