UPDATE 1-German portaloo firm up for sale, private equity interested -sources

FRANKFURT/MUNICH, June 24 (Reuters) - German portaloo firmAdco, known for its Dixi and Toi Toi brands, is up for sale withfour private equity groups in the last round of bidding for the700-800 million euro ($796 million) firm, people close to thematter said.

EQT, Triton, Apax and Core Equity Holdings are expected tosubmit binding offers by a July 10 deadline for the family-ownedcompany with sales of 360 million euros, they added.

The company was formed by a merger of the two portabletoilet brands Dixi and Toi Toi in 1997 and was run by Toi Toifounder Harald Georg Mueller until his death in 2014.

His wife and son took over but they opted to put the firm upfor sale so a new owner could inject cash to fund the expansionof the fast-growing group and to put a stronger focus on valuemaximisation.

Citi has been mandated as sell side advisors, theysaid.

The bidders and Citi declined to comment, while aspokeswoman for Adco said she could not comment on a potentialsale of the company.

Adco is expected to generate earnings before interest, tax,depreciation and amortization of about 100 million euros thisyear and may be valued at 7-8 times that, one of the sourcessaid.

Adco has had some operational issues of late, another of thesources said, adding that this was highlighted earlier thismonth when visitors of the Nuremberg Rock im Park festivalcomplained about a lack of sufficient Dixi toilets.

In a sign that Adco's expansion has hit a snag the companyhas exited certain European markets, the source added.

Adco ceased doing business in France, an Adco spokeswomansaid, declining to elaborate the reasons for the move or when ithappened.($1 = 0.8790 euros)(Reporting by Arno Schuetze in Frankfurt and Alexander Huebnerin MunichEditing by Michelle Martin)