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Truck parts trader Europart put up for sale by private equity owner - sources
October 18, 2016 / 4:03 PM / 10 months ago

Truck parts trader Europart put up for sale by private equity owner - sources

FRANKFURT, Oct 18 (Reuters) - Private equity group Triton has put its truck spare parts wholesaler Europart up for sale in a potential deal worth about 300 million euros ($329 million), two people close to the matter said.

The investor has asked investment advisory boutique Baird to find a buyer for the business it acquired in 2011 and which it strengthened through the acquisition of a peer earlier this year.

Europart is expected to post earnings before interest, taxes, depreciation and amortization (EBITDA) of less than 40 million euros this year and may be valued at 8-9 times that in a potential deal, the sources said.

They added that first information packages have already been sent to prospective buyers.

In 2015, the Hagen, Germany-based group posted sales of 414 million euros. The company has 1,650 employees in 28 countries and focuses on regions such as Germany, Denmark, Poland, Russia and Hungary.

Triton and Baird declined to comment. ($1 = 0.9105 euros) (Reporting by Arno Schuetze; Editing by Tina Bellon)

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