Electra Private Equity, the UK-listed private equity company, has reportedly hired Close Brothers to explore a sale of Capital Safety, its height safety equipment manufacturer.

According to the Financial Times, Electra is considering a sale of the business following a number of approaches from financial investors and trade buyers. The paper estimated that a sale could fetch between £200m and £250m, from which Electra stands to make over £50m after debt. 

Capital Safety manufactures safety harnesses and lanyards for construction workers, and predominantly caters to the US market, where safety regulations are more stringently applied than other parts of the world. However, with safety standards on the increase in Europe, the company is on course for future growth outside the US.

Those tipped as likely bidders for the company include private equity group Advent International, as well as private equity-owned safety equipment manufacturers Aearo and Norcross Safety.