Triton to launch sale of parts maker Aventics -sources

Parker

28/02/2018 15:49

FRANKFURT, Feb 28 (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 organise 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 amortisation (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.  
 
 
($1 = 0.8201 euros) 
 
 (Reporting by Arno Schuetze 
Editing by Maria Sheahan) 
 ((arno.schuetze@thomsonreuters.com; +49.69.7565.1197; Reuters 
Messaging: arno.schuetze.reuters.com@reuters.net)) 
 
Keywords: TRITON AVENTICS/SALE