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EQT’s Sanitec scores Sweden’s largest IPO since 2006

10 Dec 2013

Sanitec, which is backed by Northern European buyout firm EQT, has listed in Stockholm at SEK61 per share, giving the Swedish bathroom supply company a valuation of SEK6.1bn (€678m).

The oversubscribed IPO saw 52.2 per cent of shares in the company sold, with an additional 7.8 million shares still available via an overallotment option.

Sanitec said, “The offering attracted strong interest among Swedish and international institutional investors as well as Swedish retail investors. The offering was over-subscribed several times.”

The listing was Sweden’s largest since 2006. EQT bought into the business from fellow private equity firm BC Partners in 2005.

Sanitec had €753m of sales last year, and EBITDA of €105m. EQT previously tried to sell the company in 2011 for up to €1bn, hiring UBS to advise it on the process.

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