FRANKFURT, Jan 21 (Reuters) - German computer equipment retailer Caseking has been put up for sale in a potential deal worth almost 1 billion euros ($1.22 billion) by its private equity owner, which is hoping to cash in on a pandemic-related jump in sales, people close to the matter said.
Gilde is working with Jefferies on the divestiture of the company that saw a boom of sales in 2020 and is expected to post earnings before interest, tax, depreciation and amortization of about 65 million euros ($79 million), the people said.
The company may be valued at 14 to 15 times its core earnings, or 910 million to 975 million euros ($1.19 billion), one of the people said, adding that a stock market listing is also seen as a possible exit route.
Buyout group Gilde acquired Caseking in 2018 for 190 million euros or 12 times the firm’s core earnings.
Founded in Berlin in 2003, Caseking employs 550 staff who sell 10,000 different pieces of equipment to e-gamers and computer aficionados. It counts 2 million clients.
$1 = 0.8226 euros Reporting by Arno Schuetze; editing by Thomas Seythal
Our Standards: The Thomson Reuters Trust Principles.