Investcorp sells Minimax to IK

Investcorp has sold Minimax, a German provider of fire protection systems and services, to Industri Kapital in tertiary buyout. Barclays Private Equity was the first private equity firm to invest in Minimax, backing an MBO from Preussag, now know as TUI, in June 2001. Investcorp acquired the company in June 2003.

The fire protection market is big business, worth approximately €32bn annually, with a growth rate of 4% per annum. Minimax increased its revenues by €24m in 2005, reaching €443m. The majority of its revenues, 64%, comes from recurring service and refurbishment.