Cortec Group is working with Robert W. Baird & Co. to launch a sale process for its portfolio company, Weiman Products LLC, Bloomberg News reported, citing people familiar with the matter.
A final decision has yet to be made and the private equity firm could decide against a sale, the sources told the news outlet.
Gurnee, Ill.-based Weiman, which the sources said generates approximately $50 million in annual EBITDA, provides specialty cleaning products, including the Goo Gone brand and Oops! paint remover.
Cortec primarily focuses on acquiring entrepreneur-owned middle-market companies in the U.S. and Canada. It acquired Weiman in 2013, according to S&P Global Market Intelligence data.
A Cortec representative did not comment on the planned sale, and Weiman and Baird representatives did not respond to requests for comment, according to Bloomberg.