TPG tagged as one of the final bidders for MacDon
Private equity firm TPG Capital LP was tagged as one of the final bidders for MacDon Industries Ltd. The manufacturer of agricultural industry is said to sell itself for an estimated US$1 billion.
TPG Capital LP is working on making a binding bid for MacDon to meet the mid July deadline for final offers. Other parties included in the buyout, including Berkshire Partners LLC and another industry player are also evaluating the potential bid for MacDon. Sources are saying that the competing bids from other potential players remain uncertain.
Reuters reported that MacDon Industries Ltd. enlisted the services of Goldman Sachs Group Inc to find potential buyers for the manufacturing company.
MacDon Industries Ltd. is a manufacturer of a manufacturer of agricultural equipment, including sprayers, grain augers, disc seeders, cultivators and manure spreaders. The company was founded in 1949 and began as Killbery Industries Ltd. It was renamed MacDon Industries Ltd following the acquisition of the MacDonald family in 1971.