Jul 3, 2018

Gilbert Looks to Sell Equipment-Maker CPM for $1.2 Billion (Bloomberg) -- Gilbert Global Equity Partners, the private equity firm that is winding down operations, is working with Jefferies Group LLC to explore a sale of industrial-equipment maker CPM Holdings Inc., according to people familiar with the matter. CPM, one of Gilbert’s largest remaining assets, could fetch about $1.2 billion in a sale, said the people, who asked not to be identified because the matter is private. CPM generates about $115 million in annual earnings before interest, taxes, depreciation and amortization, they said. Representatives for Gilbert Global and CPM didn’t respond to requests for comment. A representative for Jefferies declined to comment. CPM, based in Waterloo, Iowa, makes processing equipment for industries including animal feed and oilseed, according to its website. Gilbert Global, founded in 1997 by investment professionals from Soros Capital LP, last raised a fund that year, according to data compiled by Bloomberg. Gilbert’s portfolio includes Amkor Technology Inc., a maker of semiconductor packaging and test services, and catastrophe reinsurance provider Olympus Re Holdings Ltd., according to the firm’s website . ©2018 Bloomberg L.P.