The pair put KMD up for sale last year for about $700m, more than double the $339m the pair paid for the company four years ago.
But EQT and ATP scrapped their exit plans in June after failing to receive a suitable offer, according to Reuters.
EQT took an 85 per cent share in the company through the 2008 buyout, with ATP owning the rest.
Bankers were believed to have organised a debt package of between €300m and €400m for the previous sale process, which equated to 4.6 times the company’s EBITDA.
KMD has annual revenues of more than $640m and employs over 3,200 people.
Advent is reported to be nearing the €7bn target for its seventh fund, just weeks after the global buyout giant raised €5.8bn towards the vehicle’s first close.
The firm is understood to have banked €6.7bn so far – €900m of which has been raised since the firm hit a first close for the fund last month.
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