Rosen Group, an engineering agency specializing in testing oil and gasoline belongings, is weighing a possible sale, individuals with data of the matter mentioned.
Rosen is working with Baird & Co. to gauge curiosity from doable suitors, in accordance with the individuals, who requested to not be recognized discussing confidential info. The corporate generates annual earnings of greater than $200 million on income of about $750 million and will appeal to each strategic and personal fairness bidders, they mentioned.
Deliberations are ongoing and there’s no certainty they’ll end in a sale, the individuals mentioned. A consultant for Rosen didn’t reply to requests for remark. A spokesperson for Baird declined to remark.
Based within the early Nineteen Eighties, Stans, Switzerland-based Rosen designs and manufactures gadgets for checking the integrity of oil and gasoline belongings reminiscent of pipelines and storage tanks. It additionally provide pipeline cleansing providers. The corporate employs about 4,000 individuals and has operations throughout Europe, the Americas and Asia Pacific, in accordance with its web site.
A sale of the corporate would add to about $172 billion value of offers within the industrials sector this yr, information compiled by Bloomberg present. That’s down greater than 40% yr on yr amid the broader drop-off in dealmaking globally.