UK materials testing firm Exova says gets proposals for cash offers

UK-based materials testing company Exova Group said on Monday it had received proposals for a possible cash offer, including one from Dutch firm Element Materials Technology.

Exova, whose laboratories test the safety and performance of products used in industries ranging from aerospace to pharmaceuticals, said private equity fund PAI Partners, and Jacobs Holding AG, a Swiss investment firm, had also made similar proposals.

"There can be no certainty that any firm offer will be made by any of the possible offerors," Exova said in a statement.

The controlling shareholder, Clayton Dubilier & Rice LLC (CD&R), is poised to put up Exova for sale, the Sunday Times reported last week.