Private equity firm EQT plans to sell German vacuum technology specialist Leybold Optics, Reuters reported. The firm has hired BNP Paribas to help find a buyer for the company. EQT bought Leybold in 2001 for about 200 million euros, Reuters said.
(Reuters) – EQT, the private equity firm backed by Sweden’s Wallenberg family, has put its oldest German investment up for sale, a person close to the transaction told Reuters.
BNP Paribas has been mandated to find a buyer, possibly from Asia, for vacuum technology specialist Leybold Optics, the source added.
In 2010, Leybold posted sales of 140 million euros ($200 million) and earnings before interest, taxes, depreciation and amortization (EBITDA) of 6 million euros.
Comparable companies are currently being sold for about 10 times EBITDA, the source said.
EQT bought Leybold in 2001 for about 200 million euros, another source from the industry said.
EQT, Leybold and BNP declined to comment.
(Reporting by Alexander Huebner; Writing by Arno Schuetze; Editing by Phillip Halstrick and Greg Mahlich)