Buyout group EQT Partners is set to launch the sale of VFS, the largest outsourcing and technology services specialist for governments and diplomatic missions worldwide. According to a Reuters report, the sale is expected to generate a Chf2-2.5 billion (about US$2.5 billion) deal. EQT is holding meetings with potential buyers, including private equity groups and sovereign wealth funds. Next month, EQT is expected to send out detailed information packages, including full-year VFS figures. VFS is a supplier of security checks, information dissemination and form checks for visa applicants, as well as recording biometric data and identification verification. Reuters said VFS is expected to report a 2018 EBITDA of Chf160 million, and could be valued at up to 15 times that in a potential sale. The company, which competes with France’s TLScontact, is targeting growth in areas such as work permits and transport tickets.
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