The sale of A2MAC1 is attracting several sponsors, including EQT and Permira, which are expected to put in indicative bids for the French automotive benchmarking company shortly, three sources familiar with the situation said.
Eurazeo, Hg and TA Associates are also expected to bid for the Five Arrows-backed company, which provides engineering and technical benchmarking services to the automotive industry, two of the sources said.
Providence is another sponsor likely to join the bidding pool, according to two of the sources. Astorg has looked into the business but its intention is unclear, one source said.
Other funds tipped to be potential bidders include US-based TCV, as reported by this news service.
A2MAC1 is being marketed off EBITDA of EUR 50m and could fetch a valuation of EUR 1bn, as reported, implying a 20x EV/EBITDA multiple.
According to one of the sources, the valuation could stretch to a 25x-30x EBITDA range.
A2MAC1, EQT, Permira, TA Associates, Providence, Hg, Jefferies, Eurazeo and Five Arrows declined to comment.
Harris Williams and Astorg did not respond to requests for comments.
