Euronews is no longer accessible on Internet Explorer. This browser is not updated by Microsoft and does not support the last technical evolutions. We encourage you to use another browser, such as Edge, Safari, Google Chrome or Mozilla Firefox.

German portaloo firm up for sale, private equity interested - sources

Euronews logo
Text size Aa Aa

FRANKFURT/MUNICH (Reuters) – German portaloo firm Adco, known for its Dixi and Toi Toi brands, is up for sale with four private equity groups in the last round of bidding for the 700-800 million euro (625 million pounds) firm, people close to the matter said.

EQT, Triton, Apax and Core Equity Holdings are expected to submit binding offers by a July 10 deadline for the family-owned company with sales of 360 million euros, they added.

The company was formed by a merger of the two portable toilet brands Dixi and Toi Toi in 1997 and was run by Toi Toi founder Harald Georg Mueller until his death in 2014.

His wife and son took over but they opted to put the firm up for sale so a new owner could inject cash to fund the expansion of the fast-growing group and to put a stronger focus on value maximisation.

Citi has been mandated as sell side advisors, they said.

Adco is expected to generate earnings before interest, tax, depreciation and amortization of about 100 million euros this year and may be valued at 7-8 times that, one of the sources said.

The bidders and Citi declined to comment, while Adco had no immediate comment.

(Reporting by Arno Schuetze in Frankfurt and Alexander Huebner in Munich; Editing by Michelle Martin)

euronews provides breaking news articles from reuters as a service to its readers, but does not edit the articles it publishes. Articles appear on for a limited time.