EQT buys BC’s Sanitec

Nordic equity house EQT is the new owner of Sanitec International, the Finland and Germany-based maker of bathroom products.

EQT, the Stockholm-based European private equity group, has agreed to buy the entire share capital of Sanitec International, the bathroom ceramics and bath and shower products maker.
 
Sanitec was sold by BC Partners, the European financial investor which acquired the then Helsinki-listed company in a public-to-private in March 2001.
 
Teachers’ Private Capital, the principal investment arm of Canadian pension fund Ontario’s Teachers, was a minority investor in Sanitec.
 
Financial terms of the deal with EQT were not disclosed.
 
In 2003, Sanitec generated sales of €951 million. The business has over 7,000 employees and 27 production sites.
 
The transaction is subject to regulatory approval. EQT will invest from EQT IV, a €2.5 billion fund closed in August 2004.