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IK tasks Goldman Sachs with firing up Minimax sale process

23 Jan 2014

water spring_lrgSwedish buyout house IK Investment Partners has reportedly hired Goldman Sachs to run its sale of German fire extinguisher maker Minimax.

The sale, which could reach €1bn, will be launched in the first quarter according to Reuters, which cited two people familiar with the situation.

IK’s decision to sell comes just over a year after scrapping a planned exit in favour of a dividend recap.

The firm could also decide to float the business on the stock exchange, and is believed to be running a dual-process with that in mind, Reuters added.

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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