News & Analysis

Cinven buyout third largest secondary since crunch

Cinven has carried out the third largest secondary transaction since the credit market difficulties began, acquiring Coor Service Management. The seller, 3i, doubled turnover and profits at Coor over three years.

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European buyout firm Cinven has bought service provider Coor Service Management from global private equity firm 3i for around €540 million ($781 million), according to a statement.

Coor Service
Management:
Doubled profits

The enterprise value was 17.5 times EBITDA, according to someone close to the deal.  

Coor helps manage, develop and streamline offices, properties and factories across the Nordic region.

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