Partners Said to Weigh Options for Conveyor-Belts Maker Ammega

(Bloomberg) — Partners Group Holding AG is exploring strategic options for European conveyor-belt manufacturer Ammega Group, including a potential initial public offering, according to people familiar with the matter.

The buyout firm is talking to potential advisers about the alternatives, the people said, declining to be identified as the discussions are private. A deal could value Ammega at about 4 billion Swiss francs ($4.6 billion) and might happen next year, the people said.

Should Partners Group decide to pursue an IPO for Ammega, Zurich could be one of the potential listing avenues, the people said. Deliberations are preliminary and the private equity firm could decide against any deal, they said. A representative for Partners Group declined to comment.

Ammega was formed in 2018 through the merger of power transmission belts-maker Megadyne Group and conveyor-belts company Ammeraal Beltech. The Netherlands-based Ammega has more than 20 manufacturing facilities to make belts and hoses for a range of uses, from food production to logistical centers.

While bankers are rushing to price a fresh slate of deals this autumn, many companies are looking at 2025 to go public with the hope that volatility of the US election will then subside. In Switzerland, Carlyle Group Inc. is working with advisers on a potential IPO of luxury-watch parts maker Acrotec Group and a listing could take place in the first half of next year, Bloomberg News reported in September.

Earlier this month, Partners Group-backed KinderCare Learning Cos. rose in its debut on the New York Stock Exchange, after the childhood education company raised nearly $600 million in an IPO. The Swiss buyout firm also recently sold its majority stake in Techem in a deal that gives the German metering firm an enterprise value of €6.7 billion.

–With assistance from Allegra Catelli.

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