Viko, the family owned electric appliances manufacturer from Turkey, has hired Credit Suisse to sell the company for a price tag between US$500 million to US$1 billion. This was confirmed by three individuals familiar with the sale requesting anonymity.
The family who owns Viko has decided to sell the company after prospective suitors have offered to purchase the firm. Internally though, there has been no successor within the family that would be able to undertake the rigors of running the appliance manufacturing firm. The projected price is at US$800 million after a valuation after EBITDA or earnings before interest, tax, depreciation and amortization value multiplied by fourteen.
The possible purchasers include Schneider Electric of France as well as LeGrand of France, ABB of Switzerland, Eaton of US and Hubbell of America. There are also bids that would be coming from KKR according to the anonymous sources.
Viko's representatives could not be reached for comment.
Join the Conversation