Cinven Said to Explore 2 Billion-Euro IPO for Germany’s CeramTec

Private-equity firm Cinven Ltd., which bought German ceramic components maker CeramTec in 2013 for about 1.5 billion euros ($1.7 billion), is exploring an initial public offering for the asset, according to people with knowledge of the situation.

The transaction could take place toward the end of this year or early in 2016 and value the business at more than 2 billion euros, said the people, who asked not to be identified because the plan is private. The buyout firm has begun preliminary talks with banks, though it hasn’t taken a final decision yet on whether to proceed, they said.