Polyconcept Owner Said To Be Exploring Sale
Earlier this week, reports surfaced that Polyconcept owner Investcorp Bank INVB.BH is looking for a buyer for the promotional products supplier based in New Kensington, Pennsylvania. Investcorp has controlled the company since 2005, when it acquired Polyconcept from BC Partners Ltd. Polyconcept North America owns a portfolio of industry brands, including Leed’s, Bullet, Trimark Sportswear, Journalbooks and HumphreyLine.
The report, originally published by Reuters, says Investcorp is collaborating with investment banks William Blair & Company LLC and Barclays Plc on the sale, and that it is in the second round of bidding. The company is said to have attracted interest from private equity firms.
Investcorp hopes the deal will value the company at $1.3 billion, including debt. Polyconcept’s 12-month EBITDA (earnings before interest, tax, depreciation and amortization) is reportedly close to $130 million.
Watch PPB Newslink for more on this developing story.