FRANKFURT -- German supplier Bruss Sealing Systems has been put up for sale by its family owners in a potential 600 million-euro ($645 million) deal, several people close to the matter said.
Bruss, which was founded in 1959 and has 2500 staff, specializes in sealing systems, elastomer gaskets and bonded pistons.
Its customers include Ford Motor, Volkswagen Group and Daimler.
Deutsche Bank has been mandated to find a buyer for the company, the people said.
Bruss and Deutsche Bank declined to comment.
The company is expected to post earnings before interest, tax, depreciation and amortization of roughly 65 million euros this year and could be valued at nine times that, one of the sources said.
U.S. automotive supplier Federal Mogul was invested in Bruss for several years, before selling its stake back to the Bruss family in 1998.