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Investcorp Said to Hire JPMorgan for Esmalglass Sale

Investcorp Bank BSC, the Bahrain-based investment firm, hired JPMorgan Chase & Co. to sell Spanish ceramics-products maker Esmalglass SA, according to people with knowledge of the matter.

The transaction may value the Villarreal, Spain-based company at about 800 million euros ($1.1 billion), the people said, asking not to be identified because the talks are private. Esmalglass wants to reach an agreement before year-end, they said.

Investcorp’s preferred option is a sale to a private-equity firm or another manufacturer, the people said. An initial public offering of Esmalglass is still a possibility, they said.

Investcorp agreed to buy a majority stake in Esmalglass from 3i Group Plc in August 2012 in a deal valued at about 200 million euros, the people said. Debt provider Intermediate Capital Group Plc also took a minority equity stake.

Esmalglass, which was founded in 1978, employs about 1,000 people in eight countries, according to the company’s website.

Spokeswomen for Investcorp, ICG and JPMorgan declined to comment.

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