Capvis- and Partners-owned VAT eyes IPO

The plans were announced with the caveat that the market conditions do not worsen significantly in the run-up to the flotation. UBS and Credit Suisse are acting as joint global coordinators and joint bookrunners. JP Morgan is joint bookrunner. Bank Vontobel and Berenberg are co-lead managers, accompanied by St Galler Kantonalbank as selling agent. Lilja & Co advises Partners Group, Capvis Equity Partners and VAT.

Swiss private equity firm Capvis and asset manager Partners Group jointly acquired the vacuum valves manufacturer in January 2014. VAT had a turnover of CHF 411m in 2015, which marks a 13% increase compared to 2014. The company currently has 1,192 employees.

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