Goldman Sachs Group Inc. is mulling a sale of auto warranty company Safe-Guard Products International LLC, but there is no certainty a deal will be announced, Reuters reported, citing sources familiar with the matter.
The sale could value Safe-Guard at more than $1 billion, inclusive of debt, and the investment banking giant is currently working with advisers on a possible auction for the company, the sources said. Goldman Sachs declined to comment when contacted by the news service, while Safe-Guard did not immediately respond.
An affiliate of Goldman Sachs acquired Safe-Guard from private equity firm H.I.G. Capital LLC in December 2012 for an undisclosed amount. Safe-Guard provides various vehicle protection services, including tire and wheels protection, windshield protection, vehicle theft protection and covering certain things that the primary insurer does not, according to its website.
