3i to sell Hyva in €500m deal

PRIVATE equity firm 3i is preparing to sell hydraulic pump maker Hyva for up to nine times its original investment.

The company has appointed Credit Suisse to run the auction for Dutch firm Hyva which is valued at around €500m (£411.3m).

3i bought Hyva for just €125m six years ago, investing €30.7m of equity and raising debt from ABN Amro.

The sale is the latest in a series for 3i, which earlier this year sold Nordic health group, Ambea, as well as commodity testing buisness Inspectorate and chemicals firm Panreac.