Andrea Bocelli - Besame Mucho (Tribute to Marilyn Monroe)
UPDATE 2-Gores put the German car manufacturer Hay -Sources auction.
Linamar Metaldyne Mahindra considered potentially interested.
Case could assess Hay in 6-7 times EBITDA -source adds details on Hay sector M A.
FRANKFURT, Sept 10 U S -Based investor The Gores Group has German auto parts manufacturer Hay for sale in a potential 400 million euros 448 million deal, several people familiar with the matter said.
The private equity firm, which acquired Hay for over 100 million euros in 2012 after Hay's near bankruptcy in the economic crisis, and expanded the company, asked the investment bank Rothschild to explore options for forging and metal specialist and can launch an auction process by the end of 2015, according to sources.
Hay might appeal to their peers, such as Linamar, Metaldyne, BorgWarner Germany Mahle and India Mahindra, the people said.
Hay earnings before interest, taxes, depreciation and amortization of about 60 million and could be valued at six to seven times in a potential deal, the sources said.
Gores, while Hay and Rothschild declined to comment.
Hay said last year, there was a turnover of 650 million euros in the two to three years.
Suppliers of German automotive components have seen a wave of mergers and acquisitions transactions in the last year that the industry executives looking to expand their product portfolios, valuations high therefore prove lucrative for sellers.
The expansion is driven by the requirements of car manufacturers, who want more and more suppliers who can move beyond their traditional products and provide a wider range of equipment, such as info-systems entertainment and self-driving technology.
In recent months, Germany Mann + Hummel U S bought Affinia peer, Magna of Canada purchased Getrag and Mahle bought U S-based air conditioning unit Delphi.
Hay was founded by Johann Hay in 1925 as the store a blacksmith providing the beginning of the automotive industry which develops a provider forged and machined parts such as steering wheels, seamless rings, gears of training and crown wheels of the differential gear 1 0 8936 euros Mounting Georgina Prodhan and Greg Mahlich.
UPDATE 2Gores to auction German manufacturer of auto parts sources Hay Reuters, update, auction, German.