Germany’s Canyon for sale as pandemic pushes cycling, sources say

By Arno Schuetze

FRANKFURT, Oct 21 (Reuters)German bicycle maker Canyon is for sale as founder Roman Arnold and minority stakeholder TSG Consumer Partners seek to tap into demand spurred by the pandemic, three people close to the matter said.

Investment banking boutique Baird last week sent out information packages to prospective private equity bidders, including KKR, Ardian, Partners, Permira and General Atlantic, the people said, asking not to be named.

Buyout group TSG Consumer Partners has put its minority position up for sale, while the founder Roman Arnold is also offering shares, giving any buyer the possibility of acquiring a majority in the firm, the people said.

Canyon and TSG had no immediate comment and Baird declined to comment.

As COVID-19 has encouraged people to use bicycles more for exercise and to avoid public transport, Germany saw a 9.2% rise in bicycle sales in the first half

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Dutch healthcare firm Mediq put up for sale in potential $1.4 billion deal: sources

FRANKFURT (Reuters) – Dutch medical supplier Mediq has been put up for sale by its private equity owner Advent in a potential 1.2 billion euro ($1.4 billion) deal, sources close to the matter said.

Advent, which is working with Rothschild ROTH.PA and HSBC HSBA.L on the sale, has organised management meetings for prospective buyers, which have been asked to hand in non-binding bids in the first week of November, they said.

Buyout groups such as CVC, Bain, BC Partners, Triton and Pamplona are expected to bid, they added.

Mediq, Advent, the banks and the prospective buyers declined to comment or were not immediately available for comment.

The firm is being marketed off full-year earnings before interest, tax, depreciation and amortization (EBITDA) of about 90 million euros, though some potential bidders are working with assumptions of core earnings closer to 70 million euros, the sources said.

Mediq, which supplies pharmaceuticals and

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Exclusive: Ferragamo Family Explores Stake Sale to Drive Italian Fashion Brand Revamp – Sources | Investing News

By Pamela Barbaglia and Claudia Cristoferi

LONDON/MILAN (Reuters) – The family owners of Italian fashion house Salvatore Ferragamo

have held informal talks with financial investors to sell a minority stake in their holding firm as they seek to turn around the luxury brand and cope with the fallout of COVID-19, five sources told Reuters.

The company’s chairman Ferruccio Ferragamo, son of late founder Salvatore, held the talks some time after the summer, offering about a 20% stake in the holding vehicle that controls the Milan-listed business, banking and private equity sources said on condition of anonymity, as the matter is confidential.

A spokeswoman for the company – which has a market value of 2 billion euros ($2.4 billion) – denied that the Ferragamo family planned to sell the stake.

The sources told Reuters that the family is still in the preliminary stages of testing market appetite, and that a deal

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UPDATE 1-Germany’s Canyon for sale as pandemic pushes cycling, sources say

(Adds detail)

FRANKFURT, Oct 21 (Reuters) – German bicycle maker Canyon is for sale as founder Roman Arnold and minority stakeholder TSG Consumer Partners seek to tap into demand spurred by the pandemic, three people close to the matter said.

Investment banking boutique Baird last week sent out information packages to prospective private equity bidders, including KKR, Ardian, Partners, Permira and General Atlantic, the people said, asking not to be named.

Buyout group TSG Consumer Partners has put its minority position up for sale, while the founder Roman Arnold is also offering shares, giving any buyer the possibility of acquiring a majority in the firm, the people said.

Canyon and TSG had no immediate comment and Baird declined to comment.

As COVID-19 has encouraged people to use bicycles more for exercise and to avoid public transport, Germany saw a 9.2% rise in bicycle sales in the first half of the

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German construction software firm Thinkproject put up for sale -sources

FRANKFURT, Oct 19 (Reuters) – German construction software developer Thinkproject has been put up for sale by its private equity owner in a potential 700-million euro ($823 million) deal, people close to the matter said.

Buyout group TA Associates, which is working with investment banking boutique Arma Partners on the divestiture has already sent out information packages on the company to prospective buyers, they added.

Private equity firms such as Cinven, KKR, Permira and TPG are expected to show interest in the company, as may some software groups.

TA Associates, Arma Partners and some of the prospective bidders were not immediately available for comment while the others declined to comment.

In a sign of the high valuations that software firms can reap, ThinkProject peer RIB Software was acquired by French electrical equipment group Schneider Electric earlier this year in a deal valuing the German firm at about 23 times its

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Swiss watch parts maker Acrotec being readied for 2021 sale – sources

FRANKFURT/ZURICH (Reuters) – Acrotec, which makes components for watchmakers including Rolex and Patek Philippe, is being readied for a sale worth up to 950 million Swiss Francs (773 million pounds) including debt by its private equity owner Castik Capital, three people close to the matter said.

Although the Swiss watch industry saw demand collapse during the COVID-19 pandemic as stores around the world closed and Chinese tourists no longer flocked to shopping hubs like Paris, sales have since recovered.

As a result, the Swiss maker of oscillating weights, escapements and shock absorbers for luxury watches is expected to launch an auction early next year, the sources told Reuters.

Castik and Rothschild ROTH.PA, which is working with it on the planned sale, declined to comment.

Acrotec, which also makes medical implants as well as high precision components for the electronics, aerospace and automotive industries, has

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Owner of chemicals firm Polynt-Reichhold explores $2.3 billion sale: sources

LONDON/MILAN (Reuters) – Buyout fund Investindustrial is gearing up to sell its specialty chemicals firm Polynt-Reichhold in a deal worth up to 2 billion euros ($2.34 billion) that is expected to launch early next year, five sources familiar with the matter told Reuters.

FILE PHOTO: Italian businessman Andrea Bonomi speaks during a press briefing in Paris December 5, 2014. REUTERS/Charles Platiau

Italy-based Polynt-Reichhold was formed in 2017 by combining Investindustrial-owned Polynt and Black Diamond Capital-backed Reichhold.

The business, which operates 41 plants around the world with a strong presence in Europe and North America, has over 2 billion euros in annual revenues.

It could be valued at between 1.5 and 2 billion euros including debt, based on core earnings of 241 million euros in 2019, two of the sources said.

Investindustrial, led by founder Andrea Bonomi, is looking to hire banks in the coming weeks to prepare the company for

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Owner of chemicals firm Polynt-Reichhold explores $2.3 bln sale – sources

By Pamela Barbaglia, Elisa Anzolin and Stephen Jewkes

LONDON/MILAN, Oct 16 (Reuters)Buyout fund Investindustrial is gearing up to sell its specialty chemicals firm Polynt-Reichhold in a deal worth up to 2 billion euros ($2.34 billion) that is expected to launch early next year, five sources familiar with the matter told Reuters.

Italy-based Polynt-Reichhold was formed in 2017 by combining Investindustrial-owned Polynt and Black Diamond Capital-backed Reichhold.

The business, which operates 41 plants around the world with a strong presence in Europe and North America, has over 2 billion euros in annual revenues.

It could be valued at between 1.5 and 2 billion euros including debt, based on core earnings of 241 million euros in 2019, two of the sources said.

Investindustrial, led by founder Andrea Bonomi, is looking to hire banks in the coming weeks to prepare the company for an auction process that could kick off

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UPDATE 1-Owner of chemicals firm Polynt-Reichhold explores $2.3 bln sale – sources

* Auction expected to launch in 2021 – sources

* Valuation range of 1.5-2 billion euros – sources

* Company has core earnings of 241 mln euros (Adds Investindustrial comment)

LONDON/MILAN, Oct 16 (Reuters) – Buyout fund Investindustrial is gearing up to sell its specialty chemicals firm Polynt-Reichhold in a deal worth up to 2 billion euros ($2.34 billion) that is expected to launch early next year, five sources familiar with the matter told Reuters.

Italy-based Polynt-Reichhold was formed in 2017 by combining Investindustrial-owned Polynt and Black Diamond Capital-backed Reichhold.

The business, which operates 41 plants around the world with a strong presence in Europe and North America, has over 2 billion euros in annual revenues.

It could be valued at between 1.5 and 2 billion euros including debt, based on core earnings of 241 million euros in 2019, two of the sources said.

Investindustrial, led by founder Andrea Bonomi,

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