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VAT Vacuum Valves seeks private equity buyers

15 Aug 2013

euro3_lrgThe family owners of VAT Vacuum Valves are reportedly looking for a private equity buyer for the Swiss business, which could be valued at €400m in a deal.

The company has hired Credit Suisse to find a private equity buyer according to VAT chairman Richard Fischer, who spoke to Reuters.

It said Credit Suisse had contacted buyout firms Advent International, Bain Capital, Montagu Private Equity, Capvis and Gilde as well as VAT’s competitors, citing people familiar with the deal.

VAT’s vacuum valves are used in semiconductor and flat screen manufacturing as well as in the coating of glass and tools.

The company currently has annual sales of $300m, the report said.

Advent and Bain have also been reported to be in contact with Strategic Value Partners about acquiring plastic film maker Kloeckner Pentaplast.

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