Private equity firm Clearlake Capital Group is exploring a sale of medical products manufacturer Team Technologies Inc for more than $1bn, including debt, according to people familiar with the matter.
Clearlake Capital is working with an investment bank on a sale process for Team Technologies, which has annual earnings before interest, taxes, depreciation and amortization of about $75m, said the sources, who requested anonymity because the matter is confidential.
Clearlake Capital has $72bn of assets under management spread across industrials, consumer products and technology sectors. Founded in 2006 by José Feliciano and Behdad Eghbali, Clearlake is based in Santa Monica, California. Last month, Clearlake Capital, together with Los Angeles Dodgers part-owner Todd Boehly, acquired ownership of English soccer club Chelsea from Russian billionaire Roman Abramovich.
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