Interest from investment funds in BUT, the French maker of furniture and electrical appliances bought out by OpCapita, Colony Capital and Goldman Sachs in 2008, could lead to a possible sale of the business.
Following a change of management and a turnaround initiated by the private equity majors over the course of the last four years, the owners are preparing to sell the company and are assessing potential interest, Reuters reported on Wednesday.
BUT has generated average annual sales growth of seven per cent over the last three years, posting revenues of €1.8bn for the company overall and €1.2bn from the company’s sales outlets. EBITDA totals just over €80m.
This week OpCapita stepped in to save the UK assets of retailer Game Group, just days after the company sank into administration.
The deal will save almost 3,200 jobs at the beleaguered company, which had to close 277 of its 610 UK stores last month after failing to pay a £21m quarterly rent bill.
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