SLV Said to Draw Bids From 3i, Lone Star in $892 Million Sale

  • PAI Partners, Lone Star Funds, Pamplona also said to bid
  • Owner Cinven hired Goldman Sachs this year to find buyer

SLV GmbH, the German lighting company owned by buyout firm Cinven, drew initial offers from private equity bidders including Lone Star Funds, 3i Group Plc and PAI Partners, people familiar with the discussions said.

Ardian and Pamplona Capital Management also submitted indicative bids on Monday for the Ubach-Palenberg, Germany-based company, which could fetch more than 800 million euros ($892 million), the people said, asking not to be named because the auction is private.

It’s a popular year to sell lighting businesses. Osram Licht AG agreed to sell its general lamps unit to a Chinese consortium in July for more than 400 million euros. Royal Philips NV raised 750 million euros from an initial public offering of its lighting business in May.

Cinven bought SLV, which specializes in lamps and technical lighting, in 2011. The firm hired Goldman Sachs Group Inc. earlier this year to find a buyer for the asset, the people said.

Representatives for Cinven, Pamplona, 3i, Lone Star, Ardian and Goldman Sachs declined to comment. A representative for PAI didn’t immediately respond to a request for comment.