HgCapital holds back on Schleich sale

The GP mandated Goldman Sachs to find a buyer in October, but is thought to have been left disappointed after potential buyers failed to satisfy price expectations. Though the sale has not been pulled, the GP has decided to bide its time on the sale. 

Schleich typifies a trend revealed by unquote" of the lengthening period of ownership amid a tough exit environment. Indeed, the GP's delayed exit takes its holding period to more than 6.25 years, exceeding the average 5.8-year holding period recorded by unquote" data for deals exited in 2012. Around 44% of deals made in 2006 are thought to still be sitting in GP portfolios.

HgCapital bought the firm in December 2006. The GP was introduced to the company by WGZ Corporate Finance Beratung and took a majority stake, with management retaining the balance. Royal Bank of Scotland structured a debt package consisting of senior and mezzanine financing.

HgCapital declined to comment.

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