Towerbrook mulls Volution IPO
Towerbrook portfolio company Volution is looking at a possible flotation sometime this year, according to an industry source.
Towerbrook declined to comment on the potential listing.
The GP acquired Volution in January 2012 from AAC Capital, in a deal reported to be worth around £160m with £80m of senior debt provided by Bank of Ireland, GE Capital and Royal Bank of Scotland.
AAC reaped a 2.4x money multiple on its original £49.25m investment through the sale, according to unquote" data. The firm had acquired Volution in 2006 from Montagu Private Equity for £160m, taking a 69.6% stake in the business.
Formed as a group in 2002, Volution comprises Torin-Sifan, Manrose, Vent-Axia and Fresh Ventilation. The Crawley-headquartered group is a manufacturer of ventilation products. Ronnie George is its CEO.
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