* Deal value potentially 3 bln euros - sources
* Owner EQT to assess offers against IPO option - sources
* BSN Medical 2017 EBITDA seen at 235 mln euros - source
(Adds details, background)
By Arno Schuetze and Pamela Barbaglia
FRANKFURT, Oct 14 BC Partners, Blackstone
and CVC are among the private equity firms expected to
make non-binding bids on Monday for German bandage and plaster
cast maker BSN Medical, several people close to the matter said.
BSN Medical rivals such as Sweden's SCA and U.S.
and Chinese companies are also expected to submit offers for an
acquisition potentially worth about 3 billion euros ($3.4
billion), the sources said.
Swedish buyout firm EQT, which put BSN up for sale earlier
this year, will compare the bids to the potential return from
possible stock market listing, with the help of JP Morgan and
Morgan Stanley, the sources said.
EQT and the potential bidders declined to comment.
"It's a dual track and the initial public offering is the
preferred option. The publication of an intention to float is
expected in the first half of 2017," one of the people close to
the matter said.
BSN reported earnings before interest, taxes, depreciation
and amortisation (EBITDA) of 201 million euros in 2015 and that
is expected to increase to 216 million this year and 235 million
next year, another source said.
EQT is hoping for a valuation of at least 13 times BSN's
expected 2017 core earnings, the people said.
Rivals such as Smith & Nephew, CR Bard and
Coloplast trade at multiples of 10.3-16.1 their
expected core earnings. Medical products maker ConvaTec is
planning an initial public offering at a valuation of more than
13 times expected core earnings.
BSN, which employs about 6,000 people worldwide, was set up
in 2001 as a joint venture between Germany's Beiersdorf
and Britain's Smith & Nephew when the two decided to
combine their wound care, fracture management, physiotherapy and
compression therapy businesses.
EQT bought BSN medical, whose brands include Leukoplast
plasters, in 2012 in a 1.8 billion euro deal.
EQT has expanded the business through acquisitions as part
of a buy-and-build strategy to boost BSN's operations in markets
including France, Brazil, South Africa and New Zealand.
Bankers are preparing about 1.4 billion euros of debt
financing to back a potential buyout of BSN, banking sources
said earlier this week.
($1 = 0.8928 euros)
(Additional reporting by Ludwig Burger and Johannes Hellstrom;
editing by David Clarke)