Carlyle closes in on acquisition of water fountain group Ocmis

The auction has recently entered into the exclusive stage with a deal signing expected in the coming weeks, two sources close to the situation said.

The transaction will involve the sposnor buying the whole of Ocmis, which it has valued at EUR 270m, these two sources plus an additional source familiar said, disclosing that a consortium comprised of Ambienta with NB Renaissance placed a rival offer of EUR 230m.

In June, Mergermarket reported that Carlyle was the frontrunner in the UBS-led sale process as it is also working on an acquisition of Italian micro-irrigation specialist Irritec.

Ocmis was looking to sell at a valuation of around 12-13x its 2022 EBITDA, which has been anticipated to be up to EUR 25m, based on its past financial performance and growth prospects, as reported.

Headquartered in Castelvetro di Modena, Ocmis designs and produces irrigation equipment. The company has 250 employees and a commercial presence in 96 countries.

Carlyle and UBS declined to comment. Ocmis, NB Renaissance and Ambienta did not return requests for comment.

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• Topics
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• Carlyle Group
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