Carlyle Group and CVC Capital Partners are exploring a joint acquisition of European security systems provider BauWatch in a potential deal valuing the company at about €1 billion ($1.2 billion), according to Bloomberg.
The private equity firms have been discussing a possible transaction with BauWatch owner Franz Haniel & Cie GmbH, the German family-owned holding company. The parties have yet to reach an agreement on price, and there is no certainty that the talks will result in a transaction.
Representatives for Carlyle, CVC and Franz Haniel declined to comment to Bloomberg.
BauWatch provides mobile video surveillance and temporary security technology for customers in the construction, property and events industries, among other sectors. The company operates in more than 10 European countries.
Franz Haniel acquired BauWatch from private equity firm Nordian Capital in 2021 for an undisclosed amount.
A successful transaction would add to private equity activity in the European security and surveillance technology sector, with Carlyle and CVC potentially joining forces on the sizable acquisition.
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