Bencis prepares Kooi for sale via Lincoln

The investment firm has mandated Lincoln International to help find a buyer, the sources and a Benelux private equity executive said, adding that the business is being marketed off EUR 20m EBITDA.

Kooi, which delivers video surveillance solutions and other security measures such as fire safety to large industrial facilities, generates EUR 31m turnover, according to the sponsor's website.

At the time of publication, the business had a score of 30 on Mergermarket's Likely to Exit (LTE) predictive algorithm*, largely weighted by the asset being held for longer than the median period for similar funds.

Bencis acquired the business in June 2018, for an undisclosed amount.

Potential buyers could include fellow Netherlands-based business security system provider BouWatch Tijdelijke Beveiliging, owned by Haniel, the PE executive said. Netherlands-based BUKO Group – which was acquired by Equistone in January in a process advised by Lincoln International - could also be a suitor, the exec added.

Founded in 2010, Kooi has 200 employees and operates in 22 European countries via offices in the Netherlands, Belgium, Germany, France, Denmark, Austria and Spain, according to its website.

Bencis, Kooi and Lincoln International did not respond to requests for comment.

*Mergermarket's LTE predictive analytics assign a score to sponsor-backed companies to help track and predict when an exit could occur through M&A, an IPO, a direct listing or a deSPAC transaction.

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