Carlyle Is Said to Weigh $2 Billion Sale of Defense Firm Titan

Carlyle Group Inc. is considering a sale of Titan Acquisition Holdings and is working with an adviser on an auction process for the military contractor, according to people familiar with the matter.

Titan, which is owned by Carlyle and Stellex Capital Management, could be valued at $2 billion in a sale, said one of the people, who asked not to be identified because they weren’t authorized to speak publicly. The Portland, Oregon-based company is likely to be of interest to other defense companies and private equity firms, the people said.

No final decisions have been made and Carlyle and ...