(Bloomberg) -- Bridgestone Corp., the Japanese industrial conglomerate, is considering a sale of its Firestone Building Products for about $2.5 billion, according to people with knowledge of the matter.
The company has hired an adviser to explore strategic options for the business, said the people, who asked not to be identified because they weren't authorized to speak publicly. Firestone, with earnings before interest, taxes, depreciation, and amortization of about $250 million, is expected to attract interest from private equity firms as well as other companies in the roofing business, the people said.
A final decision hasn't been made and Bridgestone could decide to keep the unit, they said.
“Bridgestone is always exploring a number of opportunities to unlock greater value for our employees, customers and shareholders and this includes having a variety of conversations with potential partners,” Bridgestone Americas spokeswoman Sara Stanton said in an email. “We receive inquiries on a regular basis about many of our businesses and evaluate them thoroughly.”
Firestone, led by President Taylor Cole, is part of Nashville, Tennessee-based Bridgestone Americas and designs and manufactures a range of roofing systems, primarily for commercial markets, according to the company's website. The unit's products include green roofing, daylighting systems, metal wall panels, insulation and cavity wall construction.
Tokyo-based Bridgestone is the world's largest maker of tires and has a market value of 2.4 trillion yen ($22 billion)
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