LONDON (Reuters) – Financial investors including KKR and EQT are considering offers for a stake in listed German laboratory supplier Stratec, sources familiar with the matter told Reuters on Friday.
According to a report by Bloomberg, Permira and CVC are also interested in a 40.55% stake held by company founder Hermann Leistner and his family.
Considerations are at an early stage, but a deal could trigger a takeover bid to all shareholders. It is not yet clear whether the offers are individual or potentially joint bids.
JP Morgan is advising Stratec, according to a source familiar with the situation.
KKR, EQT, Permira, Stratec and JP Morgan declined to comment. CVC did not immediately respond to requests for comment.
Stratec shares listed in Germany’s small-cap SDAX index rose more than 17% on Friday morning, driven by the takeover speculation.
The company is valued at 1.23 billion euros ($1.36 billion) on the stock exchange.
The biomedical technology firm benefited from demand for laboratory products during the coronavirus pandemic.
It employs about 1,400 people and produces machinery to automate in-vitro testing in laboratories, including for for coronavirus.
Its earnings for the first nine months of 2021 rose 61% to 58 million euros.
In the current financial year, the Birkenfeld-based company expects earnings to decline due to rising costs related to raw materials and transportation.
($1 = 0.9049 euros)
(Reporting by Emma-Victoria Farr in London, additional reporting by Matthias Inverardi in Duesseldorf, editing by Jason Neely)