CSA Group , the Canadian product testing and certification company , is exploring a sale that could value the business at around $2 billion, according to people familiar with the matter.
Jefferies Financial Group Inc. is advising on the sale of the business and is collecting first-round bids, said the people, asking not to be identified because the process is confidential. Interested parties include several private equity firms as well as other testing companies, the people said.
CSA didn’t respond to requests for comment. A Jefferies spokesperson declined to comment.
The process is ongoing and there’s no guarantee a transaction will occur, the people said.
CSA is ultimately controlled by a non-profit organization rather than traditional shareholders. The organization is owned by roughly 11,000 members, and proceeds from any sale would flow to a non-profit holding company that would fund future research and standards development, including work in emerging areas such as data centres, one of the people said.
Founded in 1919, CSA develops standards and provides testing, inspection and certification services across sectors including electrical products, industrial equipment, energy, healthcare and consumer goods. The company operates laboratories and offices in North America, Europe and Asia.