3i Group, the listed non-public fairness group, has picked bankers to promote the pet meals producer behind main manufacturers together with Applaws.
Based mostly in Manchester, MPM was based in 2002 and focuses on branded premium pet meals merchandise.
Its different manufacturers embody Encore and Reveal.
3i invested roughly £125m in MPM in November 2020 alongside the corporate’s administration crew.
A sale, which might be more likely to happen someday in 2025, could be more likely to rank amongst 3i’s largest exits for years.
The FTSE-100 funding group has come underneath rising scrutiny in latest months as its most dear holding, the Dutch-based low cost retailer, occupies an more and more dominant place in its portfolio.
Shares in 3i have risen by two-thirds during the last 12 months, and the corporate now has a market capitalisation of over £32bn.
Its hovering inventory worth has drawn consideration from short-sellers who imagine that Motion is now overvalued by the agency.
3i and Harris Williams declined to remark.
