FRANKFURT/LONDON (Reuters) - Buyout group Ardian has won the bidding for German residential and technical lighting products maker SLV, people familiar with the matter said.
Ardian prevailed against other bidders such as 3i (LON:III), Triton, Pamplona and Lone Star, the sources said, adding that the deal will likely be announced later this week.
A purchase price could not immediately be learned. People close to the deal had said in the past that they expected SLV to be sold at an enterprise value of about 750 million euros ($819 million) or about 11.5 times its expected core earnings.
Ardian and Cinven declined to comment.
SLV is expected to post earnings before interest, taxes, depreciation and amortisation of about 65 million euros this year, they said.
SLV is benefiting from strong construction activity in Germany and other countries and from regulations pushing energy-efficient technologies like LED lamps.
The group was set up in 1979. Since being acquired by Cinven, it has invested in logistics sites and bought Swiss LED lighting fixtures maker Unex.
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