U.S. investment firm Alinda Capital Partners is seeking buyers for Reliance Comfort L.P., a Canadian provider of heating and cooling systems, in a deal that could value the company C$3 billion to C$4 billion, according to people with knowledge of the process.
Alinda has hired Canadian Imperial Bank of Commerce (CM.TO) and Goldman Sachs (GS.N) as financial advisers for the sale, the people added.
The sale is seen attracting interest from Canadian pension funds and U.S. private equity firms, said the people, who declined to be identified as the process is confidential.
A CIBC spokeswoman declined comment. Alinda Capital and Goldman Sachs did not respond to requests for comment.
Bloomberg reported the news earlier on Tuesday.