Candover spinout Arle Capital Partners is reportedly looking to exit Innovia, which supplies material used to make banknotes.
The UK private equity firm hopes to sell the business for around €500m including debt based on an EBITDA of €70m, and has hired Deutsche Bank to handle the process according to the FT,which cited three people with knowledge of the situation.
The firm is looking to exit the business before raising a new fund, the report added.
Arle’s predecessor Candover Partners acquired Innovia in a €320m deal in 2004.
Earlier this year Arle said it would continue to manage investment trust Candover despite a 10 per cent decline in its portfolio valuation in 2012.
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