Buyout group Ardian wins race for German lighting group SLV - sources

Beghelli SpA

27/10/2016 13:06

FRANKFURT/LONDON, Oct 27 (Reuters) - Buyout group Ardian has 
won the bidding for German residential and technical lighting 
products maker SLV, people familiar with the matter said.  
    Ardian prevailed against other bidders such as 3i, Triton, 
Pamplona and Lone Star, the sources said, adding that the deal 
will likely be announced later this week.  
    A purchase price could not immediately be learned. People 
close to the deal had said in the past that they expected SLV to 
be sold at an enterprise value of about 750 million euros ($819 
million) or about 11.5 times its expected core earnings.   
    Ardian and Cinven declined to comment.   
    SLV is expected to post earnings before interest, taxes, 
depreciation and amortisation of about 65 million euros this 
year, they said.  
    SLV is benefiting from strong construction activity in 
Germany and other countries and from regulations pushing 
energy-efficient technologies like LED lamps.  
    The group was set up in 1979. Since being acquired by 
Cinven, it has invested in logistics sites and bought Swiss LED 
lighting fixtures maker Unex.  
     
($1 = 0.9156 euros) 
 
 (Reporting by Arno Schuetze and Claire Ruckin; Editing by Tina 
Bellon) 
 ((arno.schuetze@thomsonreuters.com; +49.69.7565.1197; Reuters 
Messaging: arno.schuetze.reuters.com@reuters.net)) 
 
Keywords: CINVEN SLV/SALE