AAC Capital Partners is expecting final round bids this month in the sale of heating systems manufacturer portfolio company Volution.
According to Reuters the company is expected to fetch around £200m - AAC Capital bought Volution in 2006 from Montagu Private Equity.
European private equity firm AAC Capital Partners’ sale of ventilation and heating systems manufacturer and supplier Volution is gathering pace with final round bids due later this month, bankers close to the deal said. The deadline for final bids is October 27.
The leveraged buyout is likely to be backed by around £80 to 90 million financing, provided by a small group of banks, the sources added.
AAC is the UK team of the former buyout arm of ABN Amro which acquired Volution in 2006 from Montagu Private Equity, backed by 132.5 million pounds of debt, according to Thomson Reuters LPC data.