Bain Capital LP and American Industrial Partners, or AIP LLC, are bidding for the cabinetry business of Livonia, Mich.-based Masco Corp. that could be worth about $1.20 billion in a sale, Bloomberg News reported, citing people with knowledge of the matter.
Clearlake Capital Group LP and W.W. Grainger Inc. are also among the second-round bidders for the Masco division; however, the company might still decide against a sale, the sources reportedly said.
Masco hired advisers in March to explore strategic options for its cabinet and windows division.
The cabinetry division in the first half reported $488 million in sales and $63 million in EBITDA, the news outlet noted, citing company reports.
Representatives for Bain, Grainger and Clearlake declined to comment, while representatives for Masco and AIP did not respond to requests for comment, according to Bloomberg.
