Rosen develops and manufactures tools for inspecting the integrity of oil and gas assets including pipelines and storage tanks. Credit: the blowup/Unsplash.

Brookfield Asset Management and Thomas H Lee Partners (THL) are among the companies looking to make bids for Rosen Group, reported Bloomberg, citing sources.

Switzerland-based Rosen is an engineering company engaged in oil and gas pipeline inspection services.

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Partners Group Holding and the investment unit of banking major Goldman Sachs Group are also among the suitors for the business, the sources said.

Any deal could value Rosen at up to $4bn (€3.9bn).

In June, the publication reported that Rosen hired Baird & Co. to assess interest from potential suitors.

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According to the sources, owners of the Swiss company requested binding bids for the company in October.

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Private credit funds are considering contributing as much as €1.2bn to aid in financing Rosen’s potential acquisition, they added.

Talks are still under way and there is no guarantee that any of the interested parties will submit a binding bid, the sources said, adding that if the valuation expectations are not met, the owners could also opt not to sell the company.

A representative for Rosen could not be reached for comment, while representatives for Brookfield, Partners Group, Goldman Sachs and Thomas H. Lee Partners declined to comment on the development.

Set up in the early 1980s, Rosen develops and manufactures tools for inspecting the integrity of oil and gas assets including pipelines and storage tanks.

The company also provides pipeline cleaning services.

With operations across Asia Pacific, Europe, the Middle East and the Americas, the company employs around 4,000 people.