Swiss machinery manufacturer Sulzer has reportedly received bids from private equity firms for its Metco business.
Private equity firms including EQT, CVC, Charterhouse and Clayton Dubilier & Rice made tentative offers valuing Metco at CHF800m ($880m) by a Thursday deadline, said Reuters.
Industrial group Oerlikon also has made an offer for Metrco, which makes thermal spray coatings for the car, chemical and energy sectors, said the people.
Metco posted an EBITDA of CHF91.7m on revenues of CHF690m last year.
“It is a transparent process, in which all bidders have the same chances. We hope that a deal is signed in the first quarter of 2014,” a Sulzer spokeswoman told Reuters.
One of Metco’s suitors, Clayton, Dubilier & Rice has recently bought Harsco Corporation’s infrastructure division via a joint venture with the industrial services group.
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