Private equity-backed German gas springs maker Stabilus is planning to list on Frankfurt’s stock exchange later this year.
Stabilus said that it will issue new shares worth €65m, while its private equity owner Triton Partners will sell part of its stake.
The Koblenz-based firm currently holds a market share of 35 per cent and operates eleven plants in the US, Canada, Mexico and Asia. It posted revenues of €460m in the 2012/13 fiscal year.
Triton acquired the company via a dent for equity swap in 2010. Stabilus was previously backed by private equity firms Paine & Partners and Montagu.
Earlier this month Triton agreed to buy the heat exchanger business of GEA Group in a €1.3bn deal and the auxiliary components business of Alstom’s thermal power division for an enterprise value of about €730m.
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