IK pre-empts Batisanté sale at the start of second round

First round bids were due earlier this month, as previously reported.

The LGT-owned business was being marketed off EUR 20m of adjusted EBITDA and EUR 16m of reported EBITDA. During the auction, a source said the asset was expected to be preempted.

IK has fended off competition from multiple sponsors including Chequers, Equistone, Latour, with Naxicap, Cobepa, Stirling Square, and Macquarie also circling the asset, as reported.

Last year, Batisanté acquired its competitor Bouvier, a specialist in safety services for collective housing. During the process, financiers were working out synergies between the two companies and the impact of the acquisition on Batisanté's adjusted EBITDA, as reported.

Founded in 1987, Batisanté is a specialist in health and safety services for real estate, asbestos and pest control, safety systems for elevators and fire security. Based in Neuilly-Plaisance, the company offers its services to around 100,000 buildings, according to its website.

IK declined to comment. Rothschild, LGT, and Batisanté did not immediately respond to a request for comment.

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