By Claire Ruckin
LONDON, July 23 (Reuters) - Private equity firm Advent
International is aiming for a stock market listing for its UK
share registration services firm Equiniti after sale talks with
Canadian private equity firm Onex halted this week, banking
sources said on Thursday.
Advent is expected to pursue a listing before the end of the
year, valuing the business at just over 1 billion pounds ($1.55
billion), the sources said.
Goldman Sachs, Barclays and Citi have been appointed to
advise on the IPO. Rothschild has been advising Advent on its
options for Equiniti.
Advent declined to comment.
Bankers are lining up IPO financing packages to support a
listing, which will include a super senior revolving credit
facility, one of the sources said.
Leveraged finance bankers had been preparing up to 530
million pounds of leveraged loans to back Onex's potential
buyout of Equiniti, equating to around 6.25 times Equiniti's
earnings before interest, taxes, depreciation and amortisation
(EBITDA) of approximately 85 million pounds, the sources said.
Equiniti agreed to acquire foreign exchange payments
business TransGlobal Payment Solutions, it announced last week.
Equiniti provides administration, processing and payments
services to businesses and acts as registrar to around 50
percent of the FTSE 100. It has 3500 employees across 29
locations.
($1 = 0.6439 pounds)
(Editing by Christopher Mangham)