A provider of social housing energy suppliers will on Friday flip into the newest in a queue of listed firms able to depart most of the people markets when it discloses a £200m provide from a French private equity company.
Sky Information has learnt that Sureserve, which had a market capitalisation of £145m at Thursday’s closing share value of 90p, will announce that it has obtained a takeover bid from Cap10.
One provide acknowledged the provision will be pitched at an enormous premium to the current stock value and would value Sureserve at about £200m.
Sureserve, which employs about 2,500 of us, installs and maintains suppliers on behalf of social housing landlords.
It trades by means of quite a few subsidiaries, along with Everwarm, Cor Power and Providor, which delivers smart metering suppliers.
The tactic from Cap10 marks the newest in a string of non-public equity approaches for London-listed firms in newest weeks.
Apollo World Administration has made affords for every THG, the net nicely being and weight-reduction plan retailer, and oil suppliers group John Wooden.
Community Worldwide, a Gulf-focused funds agency, has acknowledged it’s minded to recommend a bid from CVC Capital Companions and Francisco Companions.
Bankers at Evercore are understood to be advising Sureserve on the tactic.
Sureserve’s public relations adviser didn’t reply to calls trying to find comment.
Supply: info.sky.com”