Nordic Capital, KKR Vying for Sandvik’s U.S. Unit Hyperion

11/20/17

Buyout firms Nordic Capital and KKR & Co (KKR.N) are competing to acquire Hyperion, a U.S. manufacturer of metal cutting and drilling equipment owned by Swedish engineering company Sandvik AB (SAND.ST), according to people familiar with the matter.

Sandvik has asked potential buyers to submit binding offers for Hyperion by next month, the sources said this week. A deal could value Hyperion at more than $400 million, the two sources added.

The sources asked not to be identified because the negotiations are confidential. Nordic Capital and KKR declined to comment, while Sandvik did not immediately respond to a request for comment.

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