FRANKFURT/MADRID May 30 Spanish fragrance maker
Iberchem has attracted first-round offers from several private
equity groups in a deal potentially valuing the company at about
400 million euros ($448 million), people close to the matter
The company's owner, Madrid-based buyout group Magnum
Capital Industrial Partners, is working with investment banking
boutique PJT to find a buyer for the company it acquired
CVC, Bridgepoint and Charterhouse have handed in offers for
Iberchem, which posted earnings before interest, tax,
depreciation and amortisation (EBITDA) of 27 million euros last
year, the sources said.
Listed fragrance makers like Givaudan, Symrise
or IFF, trade at 15-17 times their expected
Given its strong sales growth of 20 percent annually,
Iberchem may be able to fetch a similar multiple, the sources
Iberchem, founded in 1985 in Murcia, offers fragrances used
in shampoos, detergents and air fresheners and in 2015 posted
sales of 105 million euros.
Magnum was not immediately available for comment, while PJT
and the bidders declined to comment.
($1 = 0.8929 euros)
(Reporting by Arno Schuetze and Andres Gonzalez; Editing by