Charterhouse looking at possible £1.5bn PHS sale

The investor acquired the company in 1999 before floating it in 2001 at a value of £414m. In 2005, Charterhouse acquired the company again through a take-private transaction that valued PHS at £739m.

It is believed the investor is looking to double its money on the investment, suggesting a price tag of around £1.5bn. Over the next eight weeks, Charterhouse is expected to formally appoint bankers to manage the sale. Rumours suggest that Goldman Sachs and Nomura, who worked on the refinancing of PHS in 2007, are the frontrunners for the sales mandate.

In the year ending March 2010, PHS generated sales of £360m and EBITDA of £96.5m.

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