Grohe considers IPO or trade sale

Financial Times 16 June 2013
The private equity owners of Germany’s Grohe are considering an initial public offering or trade sale that could value Europe’s largest sanitary fittings maker by sales at nearly €4bn, including debt.
David Haines, chief executive, confirmed in an interview that the bathroom equipment company had appointed banks to help it look at “all strategic options”, including an IPO.
However, there has been no decision on which option to pursue or the timing of any move.
Grohe joins a number of private-equity backed German companies to have announced an intention to list in recent weeks amid calmer markets, including Deutsche Annington, the property group and Kion, the fork lift truckmaker. Evonik, the chemicals company, in April completed the biggest listing of a German company since 2007.
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