Building-interior maker DIRTT drops bid to sell itself: Reuters
Canadian building-interior manufacturer DIRTT Environmental Solutions Ltd has abandoned an effort to sell itself after soliciting offers from private equity firms and other companies, sources told Reuters. Private equity firms seeking to raise debt financing for the deal have struggled to convince banks to finance a business that is vulnerable to changes in the cyclical construction industry, the sources said. DIRTT also entertained offers for a private investment in public equity transaction, that would give a private equity firm a minority stake but choose not to pursue one in the end. DIRTT, which has a market capitalization of $553.38 million, had also been a target of a U.S.-based activist investor Iron Compass.
1 August 2018•2 mins read
