Strategic buyers close in on Grohe

The GPs aim to sell Grohe for around €4bn, according to Reuters. But the potential buyers – Brazil-based Duratex, Lixil in Japan and Geberit from Switzerland – are said to have offered no more than €3bn.

TPG and Credit Suisse's private equity arm are following a dual-track process, allowing the GPs to consider floating the company on the stock market – an option currently favoured by the GPs, a person close to the deal said.

Strategic buyers have circled Grohe for a long time, with GPs considering an exit strategy since 2011. 

The private equity houses acquired the firm in May 2004 for an estimated €1.5bn, with a €800m debt facility provided by Citigroup, Credit Suisse and Deutsche Bank.

Grohe, Geberit and Credit Suisse declined to comment. TPG, Duratex and Lixil were not available for an immediate comment.

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