(Bloomberg) -- The private equity owners of Tecta America Corp. are considering strategic options for the commercial roofing company, including a sale, according to people familiar with the matter.
Altas Partners and Leonard Green & Partners have appointed advisers to solicit interest in the company, with the effort set to kick off early next year, said the people, who asked not to be identified discussing confidential information. The company, which is expected to attract interest from peers and other private equity firms, could be valued at $3 billion to $4 billion, including debt, the people said.
Representatives for Tecta, Altas and Leonard Green declined to comment.
Altas and Leonard Green are nearing a sale of a minority stake in a second industrial business, Bloomberg News reported this week. The two firms are in advanced talks with sovereign wealth funds the Abu Dhabi Investment Authority and Singapore’s GIC Pte for a stake in Pye-Barker Fire & Safety in a deal that would value that company at more than $6 billion including debt.
Tecta, which was founded in 2000, provides commercial re-roofing, service and maintenance, and new installation services, according to its website. The Rosemont, Illinois-based firm employs more than 4,300 roofing professionals in 32 states. Leonard Green acquired a minority stake in the company in 2021, while Altas first invested in 2018.
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