EQT makes SEK 12bn bid for Dometic

The company is headquartered in Solna, on the outskirts of Stockholm, and is a producer of leisure products for the caravan and motor home industry. BC Partners acquired the company in 2005 but creditors took control of it in 2009 following a covenant breach. Key lenders to the firm include Nordea and Mizuho.

If the bid is successful, this would be the second time Dometic would be under EQT ownership. EQT, through the EQT III fund, acquired the company from Electrolux in 2001 before divesting it to BC Partners in 2005. The current offer represents an 8.9x multiple on the company's 2010 EBITDA of SEK 1.35bn.

The offer completion is subject to an extraordinary general meeting to be held within the next couple of weeks. Dometic's management will sell their stakes in the company but have agreed to reinvest 55% of the proceeds from the sale.

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• Topics
• Nordics
• Consumer
• Buyouts
• EQT
• Sweden