Blackstone Group LP and CVC Capital Partners are among private-equity firms considering bids for German laboratory operator Synlab of as much as 1.5 billion euros ($1.6 billion), said four people with knowledge of the matter.
Advent International Corp., Bain Capital Partners LLC and Cinven Ltd. are also among firms weighing offers due by next month, said the people, who asked not to be identified because the information is private. Interest from competitors in the laboratory industry is also expected, they said.
The companies are targeting Synlab as competition from corporate buyers drives up prices for targets, making them less attractive to private equity firms. Buyout firms have announced $20.3 billion of takeovers so far this year, compared with $170 billion in 2014 and $312 billion in 2007, according to data compiled by Bloomberg.
Synlab’s shareholders, which include London-based private-equity firm BC Partners, hired investment bank Rothschild to explore strategic options earlier this year. BC Partners invested in 2009 in a deal valuing the Augsburg-based group at 618 million euros, according to its website.
Spokesmen for BC Partners, Advent, Blackstone, CVC, Cinven, Bain and Rothschild declined to comment.
BC Partners is looking at a number of deals, including U.K. holiday parks operator Center Parcs, currently owned by Blackstone, two people with knowledge of the matter said last month.