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Bain Said to Pick Goldman, Deutsche Bank for IPO of IMCD

Feb. 19 (Bloomberg) -- Bain Capital LLC named Goldman Sachs Group Inc. and Deutsche Bank AG to work on an initial public offering of its Dutch chemicals asset IMCD Group BV, according to people with knowledge of the matter.

IMCD, which distributes speciality chemicals and food ingredients, plans to sell shares later this year, the people said, asking not to be named as the details aren’t public. The Rotterdam-based company generates annual revenue of 1.4 billion euros ($1.9 billion) and has about 1,250 employees across 39 countries, according to its website.

Private-equity sellers including KKR & Co. and Permira Advisers LLP are seeking to sell shares of companies they acquired in the past several years as investors return to European equity markets. IPOs raised $38 billion last year, more than double the amount in 2012, according to data compiled by Bloomberg.

Bain acquired IMCD in December 2010 for a reported amount of about 650 million euros. It raised 500 million euros of leveraged loans to fund the purchase, people familiar told Bloomberg News at the time.

Representatives for Bain, IMCD, Goldman Sachs and Deutsche Bank declined to comment.

Bain is eyeing to match the success of BC Partners, which listed competing chemicals distributor Brenntag AG. Since the German company’s IPO four years ago, the stock has more than doubled helped by demand from manufacturers that are simplifying their supply chains by buying through distributors offering a broad range of their material needs.

To contact the reporters on this story: Andrew Noel in London at anoel@bloomberg.net; Ruth David in London at rdavid9@bloomberg.net; Kiel Porter in London at kporter17@bloomberg.net

To contact the editors responsible for this story: Aaron Kirchfeld at akirchfeld@bloomberg.net; Simon Thiel at sthiel1@bloomberg.net

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