Swedish buyout house IK Investment Partners has reportedly reignited plans to sell German fire extinguisher maker Minimax a year after scrapping a planned exit in favour of a dividend recap.
Minimax could be worth about €1bn according to Bloomberg, which cited three people with knowledge of the sale process.
It said IK was likely to hire Deutsche Bank to find a buyer for the business, which has annual sales of more than €1bn.
IK bought the business form Investcorp in 2006, using €530m of bank lending to finance the deal, Bloomberg added.
It said that at the time Minimax had annual revenues of less than €500m.
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