February 28, 2018 / 3:52 PM / 9 months ago

Triton to launch sale of parts maker Aventics: sources

FRANKFURT (Reuters) - Buyout group Triton is preparing the sale of pneumatics parts maker Aventics, a former unit of German automotive supplier Robert Bosch, which could fetch a price of around 500 million euros ($610 million), people close to the matter said.

Triton has asked UBS (UBSG.S) to organize an auction, which is expected to launch later this year, they said.

Aventics makes pneumatic components for industrial, automotive and marine applications. It counts Volkswagen (VOWG_p.DE), Volvo (VOLVb.ST), Caterpillar (CAT.N) and Siemens (SIEGn.DE) among its customers.

It is expected to post earnings before interest, tax, depreciation and amortization (EBITDA) of around 60 million euros this year.

The company, which was bought by Triton for around 200 million euros in 2013 is expected to be shopped to peers such as Festo, Emerson (EMR.N), IMI (IMI.L) and Parker (9845.T).

When Aventics was sold to Triton, private equity firms such as Advent and Capvis had also showed interest.

Triton and UBS declined to comment.

Reporting by Arno Schuetze; Editing by Maria Sheahan

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