LONDON, March 7 (Reuters) - Private equity firm Advent has hired Goldman Sachs and Rothschild to sell Dutch conveyor belt company Ammeraal Beltech in a process expected to begin around the end of this month, two sources familiar with the deal said.
One of the sources said the manufacturer could be worth between 800 million euros ($993 million) and 1 billion euros.
Spokeswomen for Advent and Rothschild declined to comment. A spokesman for Goldman Sachs did not immediately respond to a request for comment.
In 2016, Ammeraal Beltech's global turnover was 368 million euros. Advent acquired the company, which has 2,500 employees, in 2015, without disclosing how much it paid for it.
Sources at the time of the transaction said they believed it to be worth around 500 million euros. Advent bought it from Gilde Buy Out Partners and Parcom Capital Management which delisted the firm from Euronext Amsterdam in 2011.
The company was founded by Dutchman Thomas Ammeraal, who in 1950 invented a woven conveyor belt for the biscuit industry.
Headquartered in the town of Alkmaar, north of Amsterdam, the company merged with Germany's Verseidag Beltech in 2000 and now produces belting systems for markets including food, airports and mail offices.
Under Advent's ownership, the firm acquired belting distributors Europe-based Fogarty Belting and B&H Precision Belting in 2017, and Australian distribution partner Rydell Industrial in 2016.
Advent was founded in 1984, initiated its private equity strategy five years later and as of September 30 2017 was managing $42 billion in assets.
Last week Advent agreed to buy British electronics and technology business Laird, valuing it at around 1.2 billion pounds including debt.
In 2016 Advent raised $13 billion for its latest fund focussing on business and financial services, healthcare, industrial, retail and consumer, and technology, media and telecommunications. ($1 = 0.7222 pounds) ($1 = 0.8056 euros) (Reporting by Dasha Afanasieva and Clara Denina Editing by Keith Weir)