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Apollo-backed Braas Monier eyes €500m Frankfurt IPO

23 Apr 2014

frankfurt_170sqPrivate equity backed German roofing specialist Braas Monier Building Group is reportedly looking to list on Frankfurt’s stock exchange in June or July this year.

The company, which is owned by US private equity firm Apollo, is looking to raise €500m, said Reuters, citing sources familiar with the matter.

BNP Paribas and UBS are expected to act as global coordinators for the IPO and Goldman Sachs, JP Morgan and Berenberg will be joint bookrunners, said one of the people.

Braas Monier, which posted revenues of €1.3bn in 2012, has recently secured loans of €565m due in 2020 as part of a refinancing.

Apollo, York Capital Management and TowerBrook Capital Partners acquired the business in 2009 following a debt restructuring.

Last month Apollo president Marc Spilker decided to resign. The firm said he would stay on as a senior advisor for the rest of the year.

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