Buyout Firm Bain Said to Weigh Sale of Apex Tool’s China Assets

Bain Capital is considering a sale of Apex Tool Group’s China business as the buyout firm seeks to offload non-core assets to raise cash, according to people familiar with the matter.

The Boston-based private equity firm is working with a financial adviser and fielding interest from potential buyers, including other industry players and investment funds, the people said. A sale could value the China business, which includes the Sata brand, at $300 million to $500 million, the people said.

Considerations are preliminary and no final decisions have been made, the people said. A representative for Bain declined to comment. ...