<article>Australian buyout firm Crescent Capital Partners is looking to sell a water pipeline manufacturer it bought in 2015, two sources told Reuters, aiming to tap increased offshore interest in water infrastructure.</article>

Australian buyout firm Crescent Capital Partners is looking to sell a water pipeline manufacturer it bought in 2015, two sources told Reuters, aiming to tap increased offshore interest in water infrastructure.
The Sydney-based firm has appointed KPMG Corporate Finance to conduct an initial strategic review of Steel Mains, due to be completed before Christmas, the sources said, asking not to be identified because the information was private.
The 150-year company, which Crescent bought in 2015, is the largest manufacturer of industrial water pipelines with corrosion protection coatings for water infrastructure projects in Australia, according to its website.
The business had annual revenues of about A$100 million and earnings before interest, taxes, depreciation and amortization (EBITDA) of about A$15 million, the sources said, without disclosing the expected price the business could fetch.
The sellers are likely to target offshore buyers including private equity firms and companies in India, Japan and Germany seeking investments exposed to critical infrastructure projects, the sources said.
Representatives from Steel Mains did not return requests seeking comment.
Crescent is also seeking to sell its housing panels business New Zealand Panels Group for over NZ$100 million ($63 million), according to the Australian Financial Review.
Reuters

Crescent Capital Partners to sell water pipeline manufacturer it bought in 2015, aiming to tap increased offshore interest in water infrastructure.

Australian PE firm Crescent Capital eyes sale of water pipe maker

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Australian PE firm Crescent Capital eyes sale of water pipe maker

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