PAI’s ELITech Weighs Sale of Molecular Unit Amid Covid Boom

PAI Partners is considering a sale of ELITechGroup’s molecular diagnostics unit as the French maker of medical testing equipment sees a boom from the coronavirus pandemic, people with knowledge of the matter said.

The private equity firm is working with Jefferies Financial Group Inc. and an arm of Natixis SA as it starts gauging interest from potential buyers, the people said, asking not to be identified because the information is private. A sale could value the ELITech unit at more than 1 billion euros ($1.2 billion) based on initial estimates, the people said.