ROSEN Group, an engineering firm specialising in testing oil and gas assets, is weighing a potential sale, people with knowledge of the matter said.
ROSEN is working with Baird & Co. to gauge interest from possible suitors, according to the people, who asked not to be identified discussing confidential information. The company generates annual earnings of more than US$200 million on revenue of about US$750 million and could attract both strategic and private equity bidders, they said.
Deliberations are ongoing and there’s no certainty they’ll result in a sale, the people said. A representative for ROSEN didn’t respond to requests for comment. A spokesperson for Baird declined to comment.
Founded in the early 1980s, Stans, Switzerland-based ROSEN designs and manufactures devices for checking the integrity of oil and gas assets such as 呦乐园 and storage tanks. It also offers pipeline cleaning services. The company employs about 4000 people and has operations across Europe, the Americas and Asia Pacific.
A sale of the company would add to about US$172 billion worth of deals in the industrials sector this year, data compiled by Bloomberg show. That’s down more than 40% year on year amid the broader drop-off in deal-making globally.
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