{"id":644245,"date":"2013-02-27T07:26:35","date_gmt":"2013-02-27T12:26:35","guid":{"rendered":"http:\/\/www.pehub.com\/?p=188487"},"modified":"2013-02-27T07:26:35","modified_gmt":"2013-02-27T12:26:35","slug":"reuters-kkr-first-reserve-ares-prepare-bids-for-utex","status":"publish","type":"post","link":"https:\/\/mereja.media\/index\/644245","title":{"rendered":"Reuters \u2013 KKR, First Reserve, Ares Prepare Bids for Utex"},"content":{"rendered":"

Private equity firms KKR & Co<\/strong>, First Reserve Corp<\/strong> and Ares Management<\/strong> are preparing final bids for Utex Industries<\/strong>, a U.S. manufacturer of sealing products and services used for oil and gas drilling, Reuters<\/em> reported Tuesday. Bids for Utex, which is owned by New York-based private equity firm Rhone Capital<\/strong>, 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.<\/p>\n

(Reuters<\/em>) – 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, according to two sources familiar with the matter.<\/p>\n

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.<\/p>\n

Sources have said Utex could bring in bids in the $700 million to $800 million range.<\/p>\n

First Reserve declined to comment on the matter. KKR, Ares and Utex did not immediately respond to calls for comment.<\/p>\n

Reuters reported last month that Rhone had put the company on the block.<\/p>\n

Founded in 1940 and based in Houston, Texas, Utex makes products used for oil drilling, as well as water management and mining, according to its website.<\/p>\n

Rhone Capital, an investment arm of Rhone Group LLC, specializes in middle market leveraged buyouts, recapitalizations and partnership financings. <\/p>\n

The post Reuters \u2013 KKR, First Reserve, Ares Prepare Bids for Utex<\/a> appeared first on peHUB<\/a>.<\/p>\n

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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 […]<\/p>\n","protected":false},"author":7428,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[],"class_list":["post-644245","post","type-post","status-publish","format-standard","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/644245","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/users\/7428"}],"replies":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/comments?post=644245"}],"version-history":[{"count":0,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/644245\/revisions"}],"wp:attachment":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/media?parent=644245"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/categories?post=644245"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/tags?post=644245"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}