Cinven Ltd is in exclusive discussions to acquire CeramTec, the industrial arm of the US chemicals manufacturer, Rockwood Holdings Inc. On Friday, the said offer was priced close to Eur1.5 billion according to three sources with knowledge of the discussion.

Same sources stated that Cinven beat private equity firm rival BC Partners Ltd in the final bidding for CeramTec.  Sources said that the deal was to be announced in the next few days yet cautioned that the discussion might still fall apart.

One source said that BC Partners offered over Eur1.4 billion.

The sources asked to remain unnamed as the matter was confidential. Cinven and BC Partners refused to comment while Rockwood is not immediately available for a statement.

CaramTec is based in Germany and was established in 1903. The company manufactures ceramics through the use of products from water treatment filters to electronic components in factory robots. It is also among three business arms that Rockwood has put on the block.