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LBO France hires advisors for potential Worldwide Flight Services exit

8 Apr 2014

plane 10_sqParis-based private equity firm LBO France has reportedly hired Sycomore Corporate Finance and ING to advise on a potential sale of cargo company Worldwide Flight Services.

The business, which had EBITDA of about €45m last year, sent out marketing material to interested parties last week according to Bloomberg, which cited three people with knowledge of the matter.

It said WFS could fetch up to eight times its EBITDA, or about €360m, through a sale.

LBO France bought the company for €315m in 2006 from Vinci.

LBO France gave its current €1bn-targeting fundraise a major boost earlier this year by more than doubling LP money invested in a predecessor vehicle through the fund’s final exit.

The mid-market White Knight VI vehicle returned a gross cash multiple of about 2.2 times according to a source with knowledge of the fund.

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