Texas Pacific, Goldman Sachs to part-exit Ontex via IPO


brussels-night_sqPrivate equity-backed Belgian diaper maker Ontex is reportedly preparing for an IPO on the Brussels stock exchange.

The company’s private equity backers Texas Pacific Group and Goldman Sachs Capital Partners plan to sell half of their shareholding, said Belgian daily De Tijd.

Texas Pacific and Goldman acquired the business for €1.2bn from private equity investment trust Candover in 2010.

Last year Ontex reported profits of €175m on sales of €1.49bn.

European private equity firm Candover bought Ontex in 2002 in a €1bn deal, which was said to have been Belgium’s biggest leveraged buy-out at the time.

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