The business, which provides industrial sand to the oil and gas industry, is eyeing a $1bn IPO according to Reuters, which cited people familiar with the matter.
It said Barclays, Morgan Stanley and Wells Fargo are likely to lead the IPO.
American Securities bought a 51 per cent stake in Fairmount for an undisclosed amount in 2010.
US-based HIG bought the business in 2011 when it was known as Teleflex Marine, and saw it renamed SeaStar in February last year.
The company’s main products revolve around boat safety and performance and include hydraulic and electronic steering, joystick controls and replacement engine parts.
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