Building Products | Duisburg, Germany | Secondary Buyout
Goldman Sachs and PAI Partners have agreed to a €2.2 billion sale of Xella to Lone Star, which won a bidding battle with Bain Capital, Apollo Global Management and Blackstone that started at auction in September, according to a Reuters report. The building materials maker became an acquisition target after its failed float on the public markets last year. Xella reported €220 million in EBITDA on €1.3 billion in sales for the year ending in September. The deal is expected to close during 1H 2017.