LBO France to offer Rothschild Mate

Rothschild has won a mandate from LBO France to sell Materis in a deal that could total EUR 2bn, according to press reports. It has been reported that the industrial materials company has already attracted interest from BC Partners, Eurazeo, Wendel Investissement, PAI partners and KKR. ING will allegedly be providing staple funding for the transaction, as it did when LBO France purchased the company two years ago.LBO France backed the secondary buyout of Materis from Carlyle, CVC Capital Partners and Advent International in October 2003. LBO France beat Bain Capital, Clayton Dubilier & Rice and Vestar Capital Partners in the final stages of negotiations to acquire an 86% interest in a deal valued at 5.5x the company's EBITDA. The deal represented the largest French buyout in 2003 and the largest buyout completed by LBO France to date. A EUR 810m debt package to support the transaction was arranged by ING, comprising EUR 600m of senior debt and EUR 210m in mezzanine financing (October 2003, page 18).

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Send to  

• Topics
• Buyouts
• France
• Industrials