CVC Capital Partners Ltd. is in the early stage of evaluating options for AOC LLC, including a sale that could bring in at least $2 billion, Bloomberg News reported, citing people familiar with the matter.
The buyout firm may seek a roughly 12x EBITDA multiple for the composite-resins business, which has annual EBITDA of over $200 million, the sources reportedly said.
CVC may still opt to keep the business, the people added.
A CVC representative declined to comment, while an AOC spokesperson did not immediately respond to a request for comment, according to Bloomberg.
CVC is a leading private equity and investment advisory firm. Founded in 1981, CVC today has a network of 24 offices and over 500 employees throughout Europe, Asia and the US. CVC has secured commitments of over US$129 billion from some of the world’s leading institutional investors across its private equity and credit strategies. In total, CVC currently manages approximately US$83 billion of assets.
Source: S&P Global
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