Swiss company VAT Vacuum Valves has reportedly drawn a shortlist of suitors, which are looking to offer around CHF800m ($880m) for the business.
The suitors picked for the third round of bidding include US-based MKS Instruments and a private equity consortium comprising Swiss firms Capvis and Partners Group, sources told Reuters.
Chairman of the family-owned company Richard Fischer said that he could provide an update on the sale process by the end of the year, according to the report.
The owners would prefer to sell the company, which makes vacuum valves used in the semiconductor and flat screen industry, to either a rival or to Swiss investors, said the people.
VAT Vacuum has reportedly hired Credit Suisse to find a private equity buyer and Advent International, Bain Capital and Montagu Private Equity have been contacted as well as the company’s competitors.
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