Private equity-backed road paint supplier Ennis-Flint is reportedly close to being sold for over $575m.
The company is owned by Dallas-based Brazos Private Equity Partners, which has hired investment bank Harris Williams & Co to manage the sale, said Reuters, citing two people familiar with the auction.
Brazos created Ennis-Flint last year by merging two of its portfolio companies, Ennis Paint and Flint Trading. At that time, the business was valued at $575m.
It is not clear if the company is in the auction process or if it is still for sale, said the report.
Earlier this year Brazos, which targets companies with enterprise values of $50m to $500m, bought Eberle Design, a manufacturer of electronic control products for the traffic.
The firm is currently investing from its $715m third fund.
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