Turkish private equity fund Actera is planning an initial public offering for auto parts maker Standard Profil and has mandated JP Morgan for a listing that may take place in London, according to people familiar with the matter. Actera is considering a flotation for the unit, which it acquired in 2013, three sources said, declining to be identified because the information is not yet public.
JP Morgan has been mandated and a London listing is being considered, two of the people said. One of them said the IPO could happen in May. "JP Morgan was mandated for the initial public offering," one of the sources said. Actera was not immediately available for comment.
JP Morgan and Standard Profil both declined to comment. Standard Profil, which manufactures sealing parts for vehicles, had revenue of 390 million euros ($482 million) in 2016, according to its website. The company supplies products to global automakers including Toyota, General Motor and Renault.
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