09.09.16
3i Group plc (3i), and funds managed by 3i, has announced the sale of GEKA Holding GmbH to Sulzer Ltd, a Swiss company that specializes in pumping solutions, rotating equipment services, and separation and mixing technology.
Total proceeds of €178m to 3i and funds managed by 3i represent a 1.8x euro money multiple. Proceeds to 3i from the transaction were announced at €102m, a c.54% increase on its March 2016 sterling value. These proceeds are in addition to €23m received by 3i through a refinancing in 2015.
Founded in 1925 and headquartered in Bechhofen, Germany, GEKA manufactures brushes, applicators and complete packaging systems for the cosmetics and pharmaceutical industries.
3i and funds managed by 3i invested in GEKA in April 2012, acquiring a majority stake from private equity fund Halder.
Total proceeds of €178m to 3i and funds managed by 3i represent a 1.8x euro money multiple. Proceeds to 3i from the transaction were announced at €102m, a c.54% increase on its March 2016 sterling value. These proceeds are in addition to €23m received by 3i through a refinancing in 2015.
Founded in 1925 and headquartered in Bechhofen, Germany, GEKA manufactures brushes, applicators and complete packaging systems for the cosmetics and pharmaceutical industries.
3i and funds managed by 3i invested in GEKA in April 2012, acquiring a majority stake from private equity fund Halder.