Specialist finance lender Together has asked private equity firms to submit indicative offers this month with its owner valuing the business at between £1.7bn and £2bn, Sky News reports.
Sources told Sky News that Cinven was among the buyout groups expected to submit an offer, while Warburg Pincus is also understood to have expressed an interest.
Rothschild is advising Together and its founder, Henry Moser, on the process.
Moser established the company in 1974 and is thought to value Together at between £1.7bn and £2bn.
Sky News also reports that it was unclear whether any of the bidders would meet his expectations.
Moser is thought to be open-minded about the size of the minority stake sold, but a 49% shareholding even at the lower end of his valuation range would be worth more than £800m to him and Together’s shareholders.
In 2006, Moser sold a minority stake in the firm to Equistone and Standard Life Investments for £113.5m, buying it back a decade later.
Spokespeople for Together and Cinven declined to comment when contacted by Sky News.
