NEWS & VIEWS

Global private equity and venture capital news and research

German industrial group GEA targets buyout bidders for €1.3bn unit sale

15 Jul 2013

German process technology group GEA is targeting private equity acquires as it look to sell its heat exchanger division for over €1.3bn, according to Reuters.

The report named buyout firms including Advent International, Blackstone Group, Cinven, CVC Capital Partners, First Reserve and Permira, while GEA has hired Deutsche Bank to explore a possible sale.

GEA is one of the largest suppliers of process technology and components for the food and energy industries. In 2012, GEA generated consolidated revenues in excess of €5.7bn. Its heat exchanger unit recorded revenues of €1.61bn in 2012, with EBITDA of €167m.

The division is expected to sell for between six and eight times EBITDA, the report said.

Copyright © 2013 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