PRINT THIS PAGE Electra Partners Europe to sell Safety-Kleen in £250m deal27/04/2004. Source: AltAssets. 
 Electra Partners Europe is to sell UK-based Safety-Kleen, the parts cleaning services business, in a deal valued at £250m. There are reported to be at least ten interested parties.
Potential bidders include Advent, Montagu Private Equity and JP Morgan. First-round bids are due in three weeks, according to a report by the Financial Times.
Electra originally backed the management buy-out of Safety-Kleen in 1998. The firm then went on to acquire an additional 44 per cent stake in 2000, lifting its holding to 87 per cent. Electra invested a further £23.7m when it increased its stake, giving the business an equity value of more than £100m.
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