TPG Capital Management is said to be exploring the possibility of a sale or initial public offering of Texas-based Nexeo, according to an exclusive report published by Reuters.
The Reuters report estimates the chemical distribution company’s value at approximately US$2 billion, including debt, with annual EBITDA of US$180 million.
TPG is said to be in talks with investment banks to help determine the best course of action. The buyout firm bought Nexeo from Ashland in 2011 for US$979 million. Close competitor Univar fetched US$2.1 billion when private equity firm CVC Capital took it private in 2007.
Both Nexeo and TPG declined to comment.