October 21, 2019 / 3:57 PM / a month ago

Althea Group draws interest from EQT, BC Partners as bidding opens: sources

FRANKFURT (Reuters) - Private equity firms EQT and BC Partners are among those interested in bidding for Althea Group in a deal that could value the medical equipment service company at around 800 million euros ($891 million), two sources said.

Althea’s owner Permira [PERM.UL] has been working with Goldman Sachs (GS.N) since earlier this year to find a buyer and the first round of bids are expected this week, the sources familiar with the matter said.

Althea, which is present in 17 countries, was bought by Permira in 2014 for an undisclosed sum.

According to the two sources, the group reported core earnings last year of 87 million euros.

EQT did not comment. Permira, BC Partners and Goldman Sachs had no immediate comment.

Reporting by Arno Schuetze; Additional reporting and writing by Stephen Jewkes; Editing by David Holmes

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