EQT initiates Sanitec sell-down

EQT currently owns 40 million Sanitec shares through its Fund IV, representing a 40% stake. The private equity house aims to sell a portion of its holding in the placing.

Nordea and UBS Investment Bank are acting as joint bookrunners and have agreed to waive EQT's lock-up period following Sanitec's IPO.

EQT listed Sanitec in December last year on the Nasdaq OMX Stockholm. The company initially achieved a market cap of SEK 6.1bn. The flotation saw EQT selling a 52.2% stake in the company, with shares initially priced at SEK 64.75. At the time of writing, shares were priced at SEK 84.25 each.

Based in Helsinki, bathroom ceramics producer Sanitec has 19 production plants across Europe. In 2012, the company's net sales amounted to €752.8m, with an EBITDA of €107.6m and 6,500 employees.

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• Topics
• Exits
• Nordics
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• EQT