OTPP’s Bridon merges with Bekaert to form Bridon-Bekaert Ropes Group
Bridon, a U.K.-based portfolio company of Ontario Teachers’ Pension Plan (OTPP), has closed its merger with the rope business of Belgium’s Bekaert.
The new company, which will operate as Bridon-Bekaert Ropes Group, will be jointly owned by Bekaert and OTPP. No financial terms were disclosed for the deal, which was announced in December 2015.
According to the new Bridon-Bekaert CEO Bruno Humblet, “This combination will leverage the scale and complementary strengths of Bekaert and Bridon and will pursue value creation for our customers.”