Schroder Ventures is recapitalising its initial investment in Leica Microsystems through a planned IPO of the company. The UK private equity firm, which own 93.5% of Leica, intends to remain a significant shareholder after the IPO, which is scheduled in the next few months.

Schroder Ventures originally backed the buy-out of Leica Microsystems from Leica Group in 1998. The buy-out was backed by senior debt financing and a high yield bond led by UBS Warburg. It is intended that this debt package will be refinanced on completion of the IPO. Following its handling of the debt, UBS Warburg has been mandated to lead the IPO.