Deals in Focus

Pulsant is exploring a sale process run by Jeffries. The UK based company generates EBITDA somewhere between £25-30m and it is expected that a valuation could be in excess of £250m. The sale process has just started and is likely to be finished by Q4.

Ardian is currently sourcing an adviser for the sale of d&b Audiotechnik in a deal that could value the target at more than €600m. The company could book roughly €45 – 50m in EBITDA this year.

Cerberus Capital has retained an adviser to gauge a potential sale of Covis, which could be valued around €800m. The company has attracted the attention of other PE firms in recent years, and a formal sale process is anticipated to begin shortly.

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Sponsors Goldman Sachs and Koch Industries are looking at a disposal of Flint (Colour Oz’s best asset) to try and deal with their approaching maturities. The packaging division account of around 85% of Flint’s €315m EBITDA, and could fetch an 8x valuation.

Afga-Gevaert has collected first round bids for around half of the IT division. The parts for sale comprise the Hospital IT and integrated Care solutions and imaging IT business. The assets being sold generate roughly €50m of EBITDA. It is reported that many trade and sponsors are looking at the asset.

Waterlogic Sponsor Castik Capital has hired Goldman Sachs to consider strategic options including a sale. The UK based designer, manufactuer, distributor and service provider of purified drinking water could fetch a valuation of £2bn.