The owners of Lexmark, whose printers are widely available in Australia and used by small and medium businesses as well as enterprise and large businesses, are weighing the possibility of selling off the laser printer manufacturer.
Lexmark was at one point the printing division of IBM. Lexmark International’s shareholders now include Asian private equity firm PAG who are believed to be are working with an adviser to gauge interest in the business, according to Bloomberg.
Lexmark could attract potential offers of around $1.8 billion (A$2.63 billion) to $2 billion (A$2.92 billion), according to those familiar with the ongoing discussions.
An investor group led by Chinese printer maker Apex Technology Co. and Shan Weijian’s PAG agreed in 2016 to take Lexmark private in a deal valued at $3.6 billion (A$5.26 billion) including debt.
Chinese investment firm Legend Capital was also part of the consortium. Since the deal, Apex changed its name to Ninestar Corp.
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Lexmark’s new owners later sold its enterprise software business to private equity firm Thoma Bravo.
The Kentucky-based Lexmark is led by Chief Executive Officer Allen Waugerman, who has been with the company since its founding.
After its takeover by the Asian consortium, it has remained governed by a US-based board of directors and maintained an all-American executive team, according to its website.
