Carlyle Selects Banks for Acrotec's $4.7 Billion Zurich IPO

Carlyle Group Inc. has chosen banks to lead the initial public offering (IPO) of Acrotec Group, a Swiss-based luxury watch parts maker, which may reach a valuation of up to 4 billion Swiss francs (approximately ₹396 crores), according to sources familiar with the matter.

Bank of America Corp., Morgan Stanley and UBS Group AG are managing the potential IPO on the Zurich stock exchange for Acrotec. The Develier, Switzerland-based company could see its first public share offering in the first half of 2025, according to these sources, who requested anonymity due to the confidential nature of the discussions.

The IPO plans are still in flux, meaning that specifics like valuation, timing, and the lineup of banks involved could still change, according to the sources. Carlyle, along with the banks involved, declined to comment on the matter.

Acrotec specializes in providing precision components for various sectors, including the watch industry, medical technology, automotive, electronics, and aerospace. Carlyle took over Acrotec from Castik Capital in February 2021, though the acquisition amount was not disclosed. Rothschild & Co. has been guiding the preparations for the potential IPO as Carlyle explores ways to exit the business, according to previous reports by Bloomberg News.

Private equity firms might drive a surge in IPO activity across Europe in the coming months and next year, encouraged by record-high stock market valuations and relatively low volatility. This environment is prompting companies to gauge investor interest in new listings.

Other private equity-backed companies considering IPOs include Springer Nature, the academic publisher supported by BC Partners; Zabka Polska SA, a Polish retailer backed by CVC Capital Partners Plc; and NOBA, a Scandinavian consumer finance lender owned by Nordic Capital.

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