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Buyout interest in Carlyle’s Applus could end planned IPO

31 Jan 2014

Applus automotivePrivate equity interest in Carlyle-backed energy inspection and testing company Applus could see it scrap a planned IPO in Madrid.

Advent International, BC Partners and Cinven are all interested in buying the business for up to €2.5bn according to the FT, which cited people with knowledge of the talks.

It said that all three had held discussions with Carlyle, which bought the Spanish-headquartered business in November 2007 in a deal which valued the company at €1.48bn.

Europe-focused private equity firm Investindustrial picked up a five per cent stake for €20m five months later, leaving Carlyle owning about 76 per cent and the remainder held by banks.

The company reported EBITDA of €171m in 2012, an increase of 22 per cent on the previous year.

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