Private equity firm Oaktree Capital Group LLC is looking to sell Osmose Holdings Inc, which makes wood preservation chemicals and also provides services to railroads and utilities, in a deal that could value the company at close to $900 million, according to people familiar with the matter. Deutsche Bank AG is advising Oaktree on an auction for Osmose that is already under way, four people said this week. They asked not to be identified because the matter is not public.A sale would mark a relatively quick exit for Oaktree, which bought Osmose in May 2012. Financial terms were not disclosed at that time.The company has roughly $100 million in earnings before interest, taxes, depreciation and amortization (EBITDA), according to the people familiar with the matter. Two of them said the company could be sold for around eight to nine times its EBITDA.Another wood protection business is also on the block. Swiss specialty chemicals maker and life sciences group Lonza has said it is exploring options for its wood treatment business, including a sale.
Deutsche Bank AG is a global investment bank. The Company offers a variety of investment, financial and related products and services to private individuals, corporate entities and institutional clients around the world. Shares of DB traded higher by 2.25% or $1.07/share to $48.60. In the past year, the shares have traded as low as $38.18 and as high as $54.49. On average, 998523 shares of DB exchange hands on a given day and today's volume is recorded at 1267985.
Oaktree Capital Group, LLC (Oaktree) is a global investment management firm focused on alternative markets. Shares of OAK traded higher by 1.64% or $0.95/share to $58.77. In the past year, the shares have traded as low as $48.35 and as high as $61.88. On average, 162240 shares of OAK exchange hands on a given day and today's volume is recorded at 320277.
Source
