Investcorp, the Bahrain-based alternative investments firm, has agreed to sell Minimax, a provider of fire protection systems and services, to the Nordic buyout firm Industri Kapital.
In 2005, the company employed about 3,200 staff and achieved Ebitda of €48m, up from €41m in 2004, on revenues up 5% to €443m.
Detlef Dinsel, a partner at Industri Kapital, said: “We, together with management, will continue to grow the business organically as well as to further internationalise the business and implement Industri Kapital’s successful buy-and-build strategy via add-on acquisitions. The final goal will be to significantly grow the business and bring it to a different size category of more than €1bn of sales.”
Investcorp acquired Minimax in 2003 from Barclays Private Equity.