Bridgepoint plans CABB chemicals exit after three years

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lab glass biotech pharma chemicalLondon-based private equity firm Bridgepoint is reportedly looking to exit German chemicals maker CABB after three years of ownership.

A full exit of the company could see it valued at more than $1bn according to Bloomberg, which cited two source with knowledge of the matter.

It listed more sources as saying Rothschild had been hired to work on potential exit strategies for CABB.

Bridgepoint was said to be working on a dividend recapitalisation of the business about 12 months ago.

The firm’s 2011 deal for CABB involved €235m of debt, while the firm raised a further €110m in loans to fund the bolt-on acquisition of Finish chemicals firm Kemfine from 3i.

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