NEWS & VIEWS

Global private equity and venture capital news and research

Cavendish-backed Polypipe to float 50% stake in London IPO

20 Mar 2014

plastic-pipes_sqPrivate equity-backed pipe manufacturer Polypipe will float a 50 per cent stake on the London Stock Exchange.

The company, which is owned by Cavendish Square Partners, expects to be valued at £400m in the IPO and will receive proceeds of £200m from the stake sale.

Polypipe posted an EBITDA of £54m on revenues of just over £300m last year.

The company was bought by its management and private equity firm Castle Harlan in 2005.

Two years later, Castle Harlan sold its investment in the company to the Bank of Scotland for a return of 4.5 times.

Copyright © 2014 AltAssets

FUNDRAISING & INVESTOR RELATIONS


Legals & Terms of UsePrivacy Policy


AltAssets is registered as a trademark of Investor Networks Limited (06695690).
Registered Office: Zetland House, 5-25 Scrutton St, London EC2A 4HJ
Content is © AltAssets 2000-2014