Germany-based LANXESS is reported to be undergoing a sale process for its water treatment business which comprises ion exchange resins and reverse osmosis (RO) membranes.

“There’s an intermediate round going on right now where several bidders have been selected make indicatory bids,” said a source quoted by ICIS news. “Both strategics and private equity are interested and it appears to be a very competitive process”.

Sales of the water treatment business are about €210m, with EBITDA of around €35m. Bank of America is said to be running the sales process.