Diana and Axis exit GG
Diana Capital and Axis Participaciones have exited their stakes in Spain’s Grupo Guascor (GG), in a deal that values the diesel and gas engines supplier at €500m.
Since 2004, the private equity firms have held a joint shareholding of 12.7% in the business, which will now be owned by high-speed rotating equipment supplier Dresser-Rand Group.
Vitoria-Gasteiz-based GG was founded in 1966 and reported revenues and EBITDA of around €311m and €49m respectively in 2010.
The transaction involved approximately €125m of debt.
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