PARIS, Feb 5 (Reuters) - Investment funds Sagard and Equistone Partners have mandated investment bank Lazard to organise the sale of Swiss air treatment and ventilation systems group Flakt Woods, two sources familiar with the situation told Reuters.
Flakt Woods was created from the 2002 merger between former Marconi unit Woods Air Movement and former ABB air treatment unit Flakt, and has been held by the two funds since 2007.
“The sales process will be launched early March. Flakt could interest investment funds as well as industrial investors,” one of the sources said.
Equistone and Lazard declined to comment, while at Sagard noone was immediately available for comment.
Flakt Woods employs 2,230 people, of which 1,760 in Europe, and sells its products in 65 countries. It had 2015 revenue of about 425 million euros and a core profit margin of 10 percent, one of the sources said. (Reporting by Matthieu Protard; writing by Geert De Clercq, editing by David Evans)