German Motor-Home Maker Knaus Tabbert Plans to Revive IPO, Sources Say
(Bloomberg) -- Knaus Tabbert GmbH, the German maker of camper vans and motor homes, has revived plans for an initial public offering, people familiar with the matter said.
The company has started gauging investor demand for a potential listing, according to the people, who asked not to be identified because the information is private. It aims to kick off the share sale on the Frankfurt stock exchange as soon as September, the people said.
No final decisions have been made, and Knaus Tabbert could still delay plans for the offering, the people said. A representative for Knaus Tabbert declined to comment.
Knaus Tabbert is seeking to take advantage of surging demand for camper vans favored by cautious vacationers in the midst of the coronavirus pandemic. The pipeline of German deals is growing after a slow start to the year, with KKR & Co. also speaking to fund managers about a listing of defense supplier Hensoldt, Bloomberg News reported this month.
Private equity firm HTP Investments bought Knaus Tabbert in 2009. The company, based in Jandelsbrunn in southeastern Germany, makes recreational vehicles under brands including Knaus, Tabbert and Morelo.
Knaus Tabbert would join a select number of firms in choosing to go public in Germany this year. There have been just three IPOs in the country so far in 2020, raising a total of 329 million euros, according to data compiled by Bloomberg. That’s an 80% drop in value from a year arlier, the data show, with companies reluctant to come to market amid the economic uncertainty being wrought by Covid-19.
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