NEW YORK Jan 31 Gardner Denver Inc has
asked private equity bidders to submit final offers for the
industrial machinery maker by mid-February, three people
familiar with the matter said on Thursday.
Buyout firms Advent International Corp, KKR & Co LP,
and the partnership of TPG Capital Management LP and Onex Corp
have been weighing final bids after meeting with
Gardner Denver's management in the past few weeks, the people
The management meetings with private equity bidders took
place after Gardner Denver ended exclusive discussions in late
December with industry rival SPX Corp, said the people,
who asked not to be identified because details of the process
are not public.
Gardner Denver and Onex did not immediately respond to
requests for comment. Advent, KKR and TPG declined to comment.
Wayne, Pennsylvania-based Gardner Denver, which makes
compressors, pumps and vacuum products for industrial uses, said
on Oct. 25 that it was pursuing strategic alternatives including
a potential sale, confirming a Reuters report earlier in the