Private-equity firms “mull bid” for Primo Smallgoods

Posted by Nicole Eckersley on 21st June 2011

Primo Smallgoods is the subject of reported interest from private-equity firms, including Blackstone and Affinity Equity Partners.

A Reuters report said last week that private-equity firms are looking to buy 50% of family-owned Primo, which earlier this year reportedly looked at an IPO.

Sources told Reuters that Primo’s owners had hired Macquarie Capital to look at an IPO and a sale and approached around ten possible bidders.

However, the process was put on hold, the sources said, as Primo needed to resolve its internal shareholding.

Now, possible buyers are once more looking at the business and first-round bids for 50% of Primo are expected in around three weeks, Reuters added.

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