Byline: Josh Kosman
Private equity pioneer Investcorp is shopping its portfolio company, Werner Co. of Greenville, Pa., which bills itself as the world's largest maker of ladders.
Investcorp, working with Salomon Smith Barney Inc. and J.P. Morgan Chase & Co., started contacting potential strategic buyers in December, several sources said. It is seeking between $630 million and $700 million, or a nine to 10 times Ebitda multiple, a source said. A source close to the seller said Werner has not set a target but will see what it can attract. Press officers for Investcorp, Salomon and J.P. Morgan declined comment.
Werner makes fiberglass, aluminum and …