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MCI sale could be worth US$1 billion

According to Bloomberg companies interested in purchasing MCI include CIMC, Carrier Transicold and Thermo King.

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Bloomberg has published a story on the sale of Maersk Container Industry (MCI) reporting that interested parties include China International Marine Containers (CIMC), Carrier Transicold and Thermo King. Citing “people with knowledge of the matter”, Bloomberg said a sale could be worth as much as $1 billion.

 

MCI’s EBITDA in 2020 was $77M. A sale for $1 billion would represent a price to EBITDA multiple of 12.97x.

 

Another interested party is reported to be Midea Group Co, which manufactures appliances, HVAC systems and robotics and automation systems for production facilities. According to Bloomberg, Midea is proceeding to a second round in the sale process, together with CIMC, Carrier and Thermo King.

 

MCI has invited Daikin Industries and Triton Partners to bid as well, Bloomberg said. Triton Partners is not the container leasing company Triton International Limited. Triton Partners invests in mostly European mid-market companies in the industrial, business services and consumer/health sectors.

 

AP Moller Maersk is said to be seeking bids by late July. It has not commented on the sale process at this point.

 

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