French catering company Elior, which is backed by Charterhouse Capital Partners, could seek a public listing this year, after bids for a private sale did not meet the UK private equity firm’s expectations.
According to the Financial Times, Charterhouse was seeking as much as €4bn for the company.
AltAssets reported in February that buyout groups BC Partners and CVC Capital Partners had joined forces to make a €3.5bn bid, while UK private equity firm Cinven was also said to have made an offer. Cinven.
In April, reports suggested that Charterhouse was seeking alternative routes to exit.
The report said that Paris-based AXA Private Equity and Canadian pension fund investor Caisse de dépôt et placement du Québec were also seeking a minority stake in the company.
Charterhouse bought Elior in a €2.5bn take-private deal in 2006 alongside founder Robert Zolade, who created the company with Francis Markus in 1991.
In January last year the firm reportedly paid itself a €349m dividend thanks to the company’s debt falling below four-times EBITDA.
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