Reuters – KKR, First Reserve, Ares Prepare Bids for Utex
Private equity firms KKR & Co, First Reserve Corp and Ares Management are preparing final bids for Utex Industries, a U.S. manufacturer of sealing products and services used for oil and gas drilling, Reuters reported Tuesday. Bids for Utex, which is owned by New York-based private equity firm Rhone Capital, are due this week, the sources said. They said other parties may also bid on the company. Sources have said Utex could bring in bids in the $700 million to $800 million range.
27 February 2013•1 min read
