Belgian outdoor chain AS Adventure is preparing an IPO, after its owner Lion Capital had tried for months to find a buyer - without any result. The owners now have contacted several advisors, according to De Tijd.
It is unclear whether the IPO will be in Brussels, as its holding has a main office in the Netherlands despite being a Belgian company by nature. With a 360 million turnover and 41 million euro EBITDA, the chain's valuation would be some 100 million euro.
Lion Capital currently owns 85 % of AS Adventure's shares, while its founder (and former CEO) Emiel Lathouwers owns 10 % and the board owns the remaining 5 %. The chain is also active in the Dutch market, under its Bever brand name, and in the British market under its Cotswold Outdoor brand name.