Firms including Astorg Partners, BC Partners, Charterhouse, Hellman and Friedman, KKR and PAI Partners are all said to be interested in a deal according to Reuters, which added that pension giants the Ontario Teachers’ Pension Plan and OMERS may also bid.
Debt for the deal could be as much as $700m, sevent times the company’s $100m EBITDA, it added.
In January AltAssets reported that Electra Private Equity was seeking a sale for Allflex in a deal that could reach €1bn.
The firm invested in the animal identification company in 1998, providing £23.1m of the company’s $160m buyout.
Allflex has factories in France, Brazil, Poland and China. In 2005 and 2007 the business was refinanced with Electra being repaid £90m cumulatively, whilst retaining an investment of £40.5m in the equity of the business.
In 2011, Allflex generated sales of $259.4m (2010 in $222.1m) and made a number of bolt-on acquisitions.
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