| LONDON, July 5
LONDON, July 5 Swiss buyout group Capvis has
attracted a number of potential buyers in the sale of its German
industrial safety tools producer Bartec, which is expected to
fetch around 600 million euros ($750.60 million), banking
sources said on Thursday.
Commerzbank is leading the sales process which had attracted
a large field of suitors and a number of these have made it
through to the next round of bidding in mid-July. These include
buyout houses Charterhouse, Clayton Dubilier & Rice, EQT
and Permira as well as trades buyers Ametek,
Danaher and Honeywell, banking sources said.
The top three will make it through to the final round of
bidding expected early next month, bankers added.
Capvis was not immediately available to comment.
Bartec has had strong profit growth at a time of economic
turmoil and has focused on essential areas of safety for oil and
gas producers. Its earnings before interest, taxation,
depreciation and amortisation (EBITDA) has grown around 16
percent in 2012 to around 58 million euros, up from 50 million
euros last year, bankers said.
Bankers are putting together debt packages of around 300
million euros to back a buyout should the company go to a
private equity bidder. The financing is likely to include senior
and mezzanine leveraged loans.
Capvis bought Bartec from Allianz Capital in 2008 backed by
205 million euros of debt, according to Thomson Reuters LPC
data. Bartec, which was founded in 1975, makes safety systems
designed to prevent explosions in hazardous areas of oil and gas