Daily Newsletter

07 November 2023

Daily Newsletter

07 November 2023

Partners Group in advanced talks to buy Rosen

Rosen's shareholders have been asking as much as $4bn for the company.

Shivam Mishra November 07 2023

Partners Group Holding, a Swiss private equity company, is holding advanced talks to buy Rosen Group, reported Bloomberg.

Rosen, which is also based in Switzerland, offers oil and gas pipelines inspection services.

After outbidding other competitors, Partners Group is now the most likely buyer for Rosen, according to sources.

The company is currently trying to negotiate the conditions of a contract, sources added.

Rosen's shareholders have been asking as much as $4bn for the company, the publication reported.

According to sources, Rosen's investors may choose to keep the company if their value expectations are not satisfied, as several bids came in far below that.

One of them added that the family shareholders of the business could retain a small stake in any transaction.

Talks are still ongoing and there is no certainty that a deal will materialise.

Partners Group's representative declined to comment on the development, while Rosen's agent did not immediately respond to requests for comment.

In June 2023, Bloomberg reported that Rosen was working with Baird & Co. to assess interest from potential suitors.

Earlier in September 2023, reports emerged that Brookfield Asset Management and Thomas H Lee Partners were considering bidding for the energy services company.

The investment arm of US-based banking major Goldman Sachs Group was also believed to be among the suitors.

Rosen was founded in the early 1980s and manufactures instruments for evaluating the integrity of gas and oil assets, such as storage tanks and pipelines.

The company employs about 4,000 people and has operations in the Americas, Europe, the Middle East, and Asia Pacific.

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