CD&R’s BCA scraps IPO

The company, which announced earlier this month its intention to list, cited "volatility in global equity markets" in a statement as the reason for pulling its plans to float.

The cancellation is the latest in a long string of scrapped IPOs in recent months, following an IPO boom that began late last year and carried on almost into the summer.

Most recently, AnaCap-backed Aldermore Bank pulled out of its planned flotation just last week, also citing the deterioration of the global equity markets as the reason, unquote" reported.

Likewise, another of CD&R's portfolio companies, French multi-technical firm Spie Group, abandoned its plans to list on the Euronext Paris at the beginning of this month.

Spie's IPO cancellation came just days after Blackstone-backed Miller Homes cancelled its planned IPO, which would have valued the company at around £450m. Again, the business cited "recent financial markets volatility" as the reason for backing out of the listing.

CD&R acquired BCA in December 2009 for a reported £390m from Montagu Private Equity, investing via its $5bn Clayton Dubilier & Rice Fund VIII.

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