A supplier of social housing power providers will on Friday turn into the most recent in a queue of listed corporations ready to depart the general public markets when it discloses a £200m supply from a French personal fairness agency.
Sky News has learnt that Sureserve, which had a market capitalisation of £145m at Thursday’s closing share worth of 90p, will announce that it has obtained a takeover bid from Cap10.
One supply stated the supply can be pitched at a big premium to the present inventory worth and would worth Sureserve at about £200m.
Sureserve, which employs about 2,500 folks, installs and maintains providers on behalf of social housing landlords.
It trades by way of numerous subsidiaries, together with Everwarm, Cor Energy and Providor, which delivers sensible metering providers.
The method from Cap10 marks the most recent in a string of personal fairness approaches for London-listed corporations in latest weeks.
Apollo Global Management has made affords for each THG, the web well being and diet retailer, and oil providers group John Wood.
Network International, a Gulf-focused funds firm, has stated it’s minded to suggest a bid from CVC Capital Partners and Francisco Partners.
Bankers at Evercore are understood to be advising Sureserve on the method.
Sureserve’s public relations adviser didn’t reply to calls searching for remark.
Source: information.sky.com”