According to Reuters, EQT has hired UBS to advise it on the sale, which could attract interest from strategic trade buyers owned by other private equity firms. These include Grohe, Ideal Standard, Jacuzzi and Roca.
Sanitec designs, manufactures and markets bathroom ceramics and bath and shower products. The company operates with around 7,570 employees and posted EBITDA of €75m in 2010 on revenues of €777m.
EQT bought a 76 per cent stake in the company in April 2005 through its EQT IV fund. Financial terms of the deal were not disclosed at the time. The firm is expected to hold back on the sale process until spring 2012 after its fourth quarter financial results are released, the report said.
Last week EQT announced it had agreed to sell its shares in German retail chain Strauss Innovation to Sun European Partners. The transaction was completed through the firm’s EQT Opportunity Fund.
Copyright © 2011 AltAssets