BC Partners' Brenntag prepares IPO

Late last year BC Partners gave Deutsche Bank, Goldman Sachs, JP Morgan and Merrill Lynch mandate to manage the listing, which could raise as much as EUR 1.5bn.

As reported by unquote" in November 2009, Brenntag has restructured its EUR 2.5bn debt to prepare the company for the planned IPO. The new terms give the lenders increased interest margins, while allowing Brenntag to use the profits from the IPO to repay subordinated debt before the senior tranches.

Brenntag supplies industrial and speciality chemicals to industries in the manufacturing sector. The company is based in Mühlheim an der Ruhr and posted sales of EUR 7.4bn in 2008.

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