Apax, AEA or Franke?
According to Reuters today, N&W ‘has received a handful of indicative bids from buyout funds and industry players looking to take control of one of Europe’s largest vending machine makers, four sources familiar with the matter said.
‘As far as N&W UK is concerned it is business as normal.’ Dave Ward
‘London-based buyout fund Apax submitted an offer last week and is vying with U.S. private equity firm AEA Investors and Swiss kitchen equipment manufacturer Franke, two of the sources said.’
The full story is on Reuters web site, here.
Meanwhile, N&W’s Dave Ward insists it’ll be ‘business as normal. ”Any communication about the sales process is being managed by our shareholders’, he told Planet Vending. ‘As far as N&W UK is concerned it is business as normal.’
Reuters, says: ‘N&W is held by private equity funds Investcorp INVB.BH and Equistone, who value it at around 650 million euros ($704 million), or 8.7 times its 75 million euros EBITDA over the past 12 months.’
