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CVC Capital, BC Partners join forces for €3.5bn Elior buyout offer

20 Feb 2013

Elior cateringCVC Capital Partners and BC Partners have reportedly teamed up to launch a €3.5bn buyout of French catering company Elior from fellow private equity firm Charterhouse.

Charterhouse had originally planned to offload just the catering part of the business for about €2bn according to the FT, but the bid is also said to include the company’s other people-based service operations such as reception, cleaning and security.

The newspaper cited people with knowledge of the matter.

Charterhouse bought Elior in a €2.5bn take-private deal in 2006 alongside founder Robert Zolade, who created the company with Francis Markus in 1991.

In January last year the firm reportedly paid itself a €349m dividend thanks to the company’s debt falling below four-times EBITDA.

Charterhouse is also in the process of selling French fragrance and cosmetics retailer Nocibe and German energy metering company Ista according to reports by Reuters.

Nocibe is expected to fetch about €600m while Ista could go for €3bn, the reports said.

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