TPG mulls listing of Grohe Group
TPG-backed Grohe Group, a supplier of bathroom and kitchen products, is considering an IPO after a lengthy nine-year holding period.
A flotation could see the business, which TPG bought from BC Partners back in May 2004, valued at as much as €2.2bn.
TPG acquired the business in a €1.5bn secondary buyout from BC Partners in 2004, with an €800m debt package provided by Citigroup, Credit Suisse and Deutsche Bank. BC Partners delisted the Germany-based company in July 1999 for €1.13bn.
Grohe Group provides sanitary fixtures for bathrooms and kitchens, including taps, shower heads and toilet flush mechanisms. It is thought to have revenues of about €1.16bn.
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