(Bloomberg) -- Lexmark International Inc.’s owners are considering a sale of the laser printer maker, people with knowledge of the matter said.
The company’s shareholders, which include Asian private equity firm PAG, are working with an adviser to gauge interest in the business, the people said. A sale of Lexmark is likely to attract other buyout funds and could fetch around $1.8 billion to $2 billion, according to the people, who asked not to be identified because the information is private.
An investor group led by Chinese printer maker Apex Technology Co. and dealmaker Shan Weijian’s PAG agreed in 2016 to take Lexmark private in a deal valued at $3.6 billion including debt. Chinese investment firm Legend Capital was also part of the consortium. Since the deal, Apex changed its name to Ninestar Corp.
Lexmark’s new owners later sold its enterprise software business to private equity firm Thoma Bravo.
Lexington, Kentucky-based Lexmark is led by Chief Executive Officer Allen Waugerman, who has been with the company since its founding. After its takeover by the Asian consortium, it has remained governed by a US-based board of directors and kept an all-American executive team, according to its website.
Deliberations are at an early stage, and there’s no certainty they will lead to a transaction, the people said. Representatives for Lexmark and Hong Kong-based PAG declined to comment. Spokespeople for Legend Capital and Ninestar didn’t respond to requests for comment.
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