KPS Capital Partners is exploring options for Scottish engineering firm Howden Group Ltd., people with knowledge of the matter said.
The New York-based private equity firm is working with advisers to study a potential sale or initial public offering of Howden, according to the people. KPS is seeking to fetch a valuation of as much as $3.5 billion for the industrial equipment maker, the people said, asking not to be identified because the information is private.
KPS bought Howden in 2019 from Colfax Corp. for $1.8 billion including debt and expanded the company through acquisitions. It made six purchases last year including a deal for Compressor Products International, a maker of after-market components for reciprocating compressors, according to a December press release.
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