Carlyle recoups €165m from Applus sell-down

The offering consisted of 15 million shares, each priced at €11.

Following completion of the placement, Carlyle retains 31,161,582 shares in Applus, equating to a 23.97% stake.

The €11 share price is significantly lower than it was when the company floated in May 2014. At the time of its IPO, Applus priced its shares at €14.50, enabling it to raise €300m.

The flotation on the Barcelona, Bilbao, Madrid and Valencia stock exchanges gave the business a market cap of €1.9bn.

Previous funding
Carlyle acquired a majority stake in Applus via a €1.48bn buyout in 2007, and retained a significant stake in the asset following its IPO. Investindustrial entered the firm's shareholding later that year, taking a 5% stake in a €20m deal.

Company
Barcelona-based Applus specialises in testing, inspection and certification. Founded in 1996, the company serves clients across all industries to ensure assets and products comply with regulations, including environmental, quality and health and safety rules.

People
Fernando Basabe is CEO of Applus.

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