IK investment partners sells Minimax to Kirkbi and ICG
FRANKFURT, June 12
FRANKFURT, June 12 (Reuters) - IK Investment Partners has sold a majority stake in German fire extinguisher maker Minimax Viking to Danish family holding Kirkbi A/S and asset manager Intermediate Capital Group Plc, IK said on Thursday.
IK did not reveal financial details of the transaction.
Financial sources said separately the sale values Minimax at 1.37 billion euros ($1.9 billion).
IK Investment Partners acquired Minimax in 2006 from Investcorp backed with 530 million euros of loans. The business has grown considerably since a 2007 acquisition of Consolidated Fire Protection in the US and a merger with US rival Viking in 2009. ($1 = 0.7345 Euros) (Reporting by Alexander Huebner and Jonathan Gould; editing by Thomas Atkins)