(Bloomberg) -- Barnes Group Inc., which makes components used in military turbine engines among other products, is exploring strategic options including a sale, according to people with knowledge of the matter.

The Bristol, Connecticut-based company is working with advisers to solicit interest from potential buyers including private equity firms, said the people, who asked not to be identified as the information is private.

Shares in Barnes Group jumped as much as 9.3% on Wednesday, the biggest gain since April 18, following the Bloomberg News report. The stock has risen about 25% this year, giving the company a market value of more than $2 billion.

No final decision has been made and it’s possible the company will opt to remain public. A Barnes Group spokesman didn’t immediately respond to requests for comment.

Founded in 1857 and led by Chief Executive Officer Thomas Hook, Barnes Group develops molding and automation solutions for sectors including health-care, packaging, electronics, consumer and industrials, its website shows. The company also provides complex fabricated and precision-machined components in aerospace. It has 43 manufacturing locations with 5,700 employees.

(Updates Barnes Group’s share moves in third paragraph.)

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