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LBO France exits Sonovision Group for 2.1x return

17 Feb 2014

fat-euro_sqLBO France has reportedly made a return of 2.1 times from the sale of aerospace engineering service provider Sonovision Group to French industrial services group Ortec.

The firm sold Sonovision for €88m, or 7.3 times its 2013 EBITDA, said Dow Jones, citing a person familiar with the matter.

The report noted that the average price paid by trade buyers reached 7.6 times EBITDA in the fourth quarter compared with an average of 7.3 times paid by private equity firms.

LBO’s latest deal should help its efforts to raise its latest fund, White Knight IX, which is targeting €1bn.

In November last year AltAssets reported that LBO France’s mid-market White Knight VI vehicle returned a gross cash multiple of about 2.2 times.

The firm’s exit from Winoa to a KKR-led consortium was the fund’s last remaining investment.

 

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