Norwest Equity Partners could sell agricultural chemicals company Becker Underwood for more than $1bn, it is understood.
Investment bank Greenhill & Co has been hired to advise on the deal according to Reuters, which said Norwest hopes to make a sale at more than 11 times the company’s 2012 EBITDA.
Norwest picked up a majority stake in Iowa-based Becker Underwood in 2004.
The company supplies non-pesticide chemical and biological products for the agriculture, landscape, turf and horticulture industries to improve crop sustainability and enhance yields.
Last month mid-market buyout house Norwest made a $50m investment in health insurance technology company GoHealth.
The company works with more than 100 health insurance carriers and says over 10,000 licensed agents use the GoHealth quote engine platform.
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