By Kylie MacLellan and Andrés González
LONDON/MADRID (Reuters) - The private equity owner of Applus+ has picked Morgan Stanley
Disasters like the 2010 BP
The Barcelona-based company reported earnings before interest, tax, depreciation, and amortization of 171 million euros last year, up 19 percent on the previous year, helped by acquisitions in what is a fragmented industry.
The share sale, for which Rothschild
Details on the flotation, such as the size of the stake to be sold and what it will be valued at, are yet to be decided.
Carlyle and Applus+ declined to comment.
This year has seen a growing number of private equity firms taking advantage of improving stock markets to float their businesses and bankers working on share sales expect this flow of deals to continue in 2014.
Applus+, which has over 18,000 staff across more than 60 countries, has more than doubled its revenues under Carlyle to 1.46 billion euros last year. Around 80 percent of its revenues are generated by clients outside of Spain.
In July, Applus+ hired John Hofmeister, a former Shell Oil
($1 = 0.7377 euros)
(Editing by Alexander Smith and Elaine Hardcastle)