Buyout group Cinven has short-listed four other private equity groups in its auction of German residential and technical lighting products maker SLV, people close to the matter said.
Ardian, 3i, Triton and Lone Star have been asked to prepare second-round bids for the asset, which is expected to be sold at a valuation of 750-800 million euros ($843-$899 million), they added.
The buyout groups declined to comment or were not immediately available for comment.
SLV is expected to post earnings before interest, taxes, depreciation and amortisation (EBITDA) of about 65 million euros this year and may be valued at about 12 times that, they said.
SLV is benefiting from strong construction activity in Germany and other countries and from regulations pushing energy-efficient technologies like LED lamps