Private-equity giant the Carlyle Group (NYSE:CG) is reportedly on the verge of scooping up DuPont’s (NYSE:DD) auto paint business in a deal worth almost $5 billion.
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According to the New York Post, the Carlyle bid values the business at about eight times earnings before interest, depreciation, taxes and amortization -- slightly higher than DuPont had anticipated.
If the deal is sealed, Carlyle would have beaten out bids from rival private-equity firms Apollo Management, Blackstone (NYSE:BX) and KKR (NYSE:KKR).
DuPont’s auto paint business serves auto makers General Motors (NYSE:GM) and Ford (NYSE:F) and its primary clients are Maaco and other auto-paint refinishers.
The potential acquisition comes just weeks after Carlyle teamed up with BC Partners to acquire industrials company Hamilton Sundstrand from blue-chip conglomerate United Technologies (NYSE:UTX) for $3.5 billion.
Shares of DuPont gained 0.69% to $49.81, while Carlyle ticked up 0.86% to $24.56.
Based in Washington, D.C., Carlyle went public in May with an initial public offering that raised $671 million.