Bain seriously considers IPO of France’s FCI-source

By Nina Sovich and Julien Ponthus

PARIS, Oct 25 (BestGrowthStock) – U.S. private equity firm Bain
Capital is “seriously considering” a stock market listing of
FCI, a Versailles-based manufacturer of electrical connectors, a
source familiar with the matter told Reuters on Monday.

Goldman Sachs has been hired to handle the initial public
offering (IPO), the source said. A second source with knowledge
of the matter said the IPO would not happen until next year.

Goldman Sachs and Bain declined to comment.

Bain bought the FCI in 2005 from French nuclear reactor
maker Areva (CEPFi.PA: ). The sale gave FCI an enterprise value of
1.06 billion euros ($1.49 billion).

However, in July 2009, Bain sold FCI subsidiary FCI Americas
to Hubbell Inc for $360 million in cash.

FCI has 12,000 employees in 30 countries and had sales of
935 million euros in 2009. The company designs and manufactures
connectors found in laptops, cars and televisions.

Bain had been testing the water for an outright sale of the
business to private equity but is now leaning towards an IPO,
several sources familiar with the deal said.

FCI competes with Tyco Electronics (TEL.N: ), Amphenol Corp.
(APH.N: ) and Molex Inc. (MOLX.O: ). One source said that an
industrial buyer could also be taking a look at FCI.
($1=.7124 Euro)
(Additional reporting by Quentin Webb; Editing by James Regan)

Bain seriously considers IPO of France’s FCI-source