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Veritas Capital explores $2 bln sale, IPO of electronics component maker Excelitas -sources
August 25, 2017 / 5:47 PM / 3 months ago

Veritas Capital explores $2 bln sale, IPO of electronics component maker Excelitas -sources

WASHINGTON, Aug 25 (Reuters) - Veritas Capital, a New York-based private equity firm, is exploring the sale of electronics and optical sensor component maker Excelitas Technologies Corp in a deal that could fetch as much as $2 billion, several people familiar with the matter said.

The firm has hired investment bank Goldman Sachs to pursue a so-called dual track sale process, which involves finding a potential buyer for Excelitas at the same time as sounding out investors about an initial public offering.

Spokespeople for Veritas and Goldman Sachs declined to comment. Excelitas did not immediately respond to a request for comment. The people spoke on condition of anonymity because they were not authorized to discuss the talks. (Reporting by Mike Stone in Washington; Editing by Steve Orlofsky)

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