Triton to sell Dematic

The second round is said to be planned for the autumn. Bidders from Asia and other parts of the world have shown interest in the process organised by Barclays.

The enterprise value of the €1bn-turnover company is said to be around €700-800m but Triton is reportedly hoping to sell it for more. Dematics achieved an EBITDA of €80m last year, which is expected to increase to €100m this year.

According to reports, JP Morgan and Morgan Stanley are looking to arrange a staple financing of €500m, or 5x EBITDA, for possible buyers.

Triton acquired Dematic from Siemens in 2006. The company was founded in 1819 and employs 4,000 people.

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