Sagard to launch Climater sale in Q4

The company is to be marketed based on 2021 EBITDA of EUR 30m, according to the three sources. Info memos are to be distributed in October, two sources said. The sale is expected to conclude by the end of the year, one source added.

The process could prove popular among sponsors, some of which are already looking to pre-empt the asset, according to one of the sources. However, the sell-side is adamant about holding an auction and unlikely to accept pre-emptive bids, another source said.

With origins dating to the 1980s, Climater is an independent climate engineering company specialising in installing and maintaining climate control, heating and building ventilation systems. The business generated revenues of EUR 200m in 2018 and has a headcount of 1,000, according to its website.

Climater was acquired by Sagard from Weinberg Capital in 2018. In the same year, the company acquired its domestic counterparts Groupe EFM and Sedicam, and Amardeilh in 2019.

Sagard declined to comment. Edmond de Rothschild did not reply to a request for comment.

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