Private equity firm Tinicum Inc. selected Lazard Ltd. to run a sale process for Consolidated Aerospace Manufacturing LLC, Reuters reported, citing people familiar with the matter.

The California-based company, which makes fasteners and other components for the aerospace market, reportedly could be worth about $1 billion, including debt, in a sale. One source reportedly said the company has 12-month EBITDA of approximately $80 million.

Sources told the news agency that bidders for the business may include KKR & Co. Inc., which may combine Consolidated Aerospace with Novaria, a specialty aerospace hardware company the buyout giant is in the process of acquiring.

Neither Lazard nor KKR commented on the matter, while Consolidated Aerospace and Tinicum did not answer requests for comment, according to Reuters.