EQT to float Musti

The planned IPO is expected to consist of both a share sale by some existing shareholders and a new share issue by the company worth €40–50m, before transaction fees and expenses. The proceeds of the share issue will be used to reduce the company's debt, in addition to general corporate purposes, according to a company statement.

EQT will continue to be involved in the company following the listing, according to the statement.

Carnegie Investment Bank, Jefferies International and Nordea Bank are acting as joint global coordinators and joint bookrunners for the process. Roschier Attorneys is providing legal advice.

Finnish GP Vaaka Partners acquired Musti in a management buy-in in June 2010, which saw the GP buy out owner Matti Varpula, with Mika Sutinen taking over as CEO. EQT acquired the company in 2014 using its EQT Mid Market Fund. The fund closed on €1.1bn in 2014 and invests €80-150m in European deals.

The company generated EBITDA of €34.3m from revenues of €246.6m for the year ending in September 2019.

EQT declined to comment.

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