Triton-backed Stabilus prices IPO at €19 to €25


german flag 2_sqPrivate equity-backed German gas springs maker Stabilus has priced its upcoming IPO on Frankfurt’s stock exchange at €19 to €25 per share.

The company plans to sell shares worth up to €292m with its private equity backer Triton Partners set to raise as much as €227m from the share sale, according to a prospectus.

Stabilus previously said that it would sell €65m worth of new shares.

The Koblenz-based company, which holds a market share of 35 per cent, reported revenues of €460m for the 2012/13 fiscal year.

Stabilus currently operates eleven plants in the US, Canada, Mexico and Asia.

Triton bought the company via a debt for equity swap in 2010. Stabilus was previously backed by private equity firms Paine & Partners and Montagu.

Triton closed its most recent fund, Partners IV, on €3.3bn in May last year, making it the largest private equity fund ever raised by a German firm.

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