HONG KONG, May 30 (Reuters) - Stanley Black & Decker Inc is among potential bidders for private equity-owned Infastech, a Singapore-based industrial fastener maker with revenues of over $500 million, sources with direct knowledge of the matter said.
CVC Capital Partners and Standard Chartered’s private equity arm have hired Bank of America and Goldman Sachs to sell the business, the sources added, after buying it for about $350-$400 million in 2010.
First-round bids are due on Wednesday, they added.
Pan-Asia buyout fund Unitas Capital is among the other interested parties who have been working with banks to buy the company, the sources added. However, it was not clear whether any of the suitors will eventually place bids.
Bank of America, Goldman, Standard Chartered and Unitas declined comment. CVC could not be reached for immediate comment. Black & Decker did not reply to an e-mail seeking response.
The sources did not want to be identified as they were not authorised to speak to the media.