The deal ensures IK’s 2004 fund continues its strong exit performance, with the overall multiple for the fund now standing at about 2.4 times.
IK 2004, which raised €825m of capital, has now returned more than €1.9bn.
The firm bought Minimax through an MBO in June 2006 when the company was a regional market leader in Europe and Germany, and ranked third in the world for its market.
Minimax has since grown to a global business, doubling its revenues to about €1.2bn last year and growing its employees from 3,200 to more than 7,000.
The company bought US-based Viking, which also provided fire suppression products, in 2009
IK managing partner Detlef Dinsel said, “The investment in Minimax Viking has been a great success.
“The company commands market leading positions across the fire protection market and has successfully transformed into a global market leader with a fully integrated offering covering fire suppression products & distribution, system integration and services.”
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