Warburg Pincus has sold surface treatment provider Safetykleen Europe to Apax Partners, which becomes the business’s fourth private equity backer.
Safteykleen offers industrial processes including surface treatment and chemical application services. It provides more than 700,000 services to 100,000 parts cleaners every year.
The company employs 1,600 people and has turnover of around £213m (€249.2m).
Safteykleen is headquartered in London and operates in 14 countries, including Brazil, China and Turkey. It is led by chief executive Philippe Mauguy.
Warburg Pincus bought the business from CCMP Capital Advisers for £565m in 2008. Prior to that it was owned by Electra Private Equity.