Rothschild’s private equity arm is sounding out prospective bidders to launch the sale of a majority stake in French automotive software firm A2Mac1, a deal valued at up to $1.5bn.
Five Arrows Principal Investments (FAPI) – which is owned by Rothschild and manages $2.85bn of capital focused on mid-market investments in Western Europe – is holding preliminary talks with a series of private equity firms ahead of an auction process in September, the sources said, speaking on condition of anonymity.
The business is valued at between $1bn and $1.5bn, representing a multiple of more than 20 times the company’s core earnings of 50 million euros, the sources said.
U.S. buyout fund KKR and European rival Permira are also likely to get involved given the recession-proof appeal of the technology industry, the same sources added.
Read more: Reuters
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