Stanley Black & Decker Inc is among potential bidders for private equity-owned Infastech, a Singapore-based industrial fastener maker with revenues of more than $500 million, sources with direct knowledge of the matter said.

CVC Capital Partners and Standard Chartered’s private equity arm have hired Bank of America and Goldman Sachs to sell the business, the sources added, after buying it for about $350 million-$400 million in 2010.

First-round bids are due on Wednesday, they added.

Stanley Black & Decker, a New Britain, Connecticut-based company which makes power and hand tools and mechanical access solutions, bought Swedish security services firm Niscayah for $984.5 million to expand in Europe’s growing electronic security systems market.

Pan-Asia buyout fund Unitas Capital is among the other interested parties who have been working with banks to buy the company, the sources said. However, it was not clear whether any of the suitors would eventually place bids.

Unitas was among three private equity bidders for the asset, known at that time as Acument Global Technologies, when it was last sold in mid-2010.

CVC won the bidding at that time, beating KKR & Co LP , backed by a $190 million loan financing from seven banks.

CVC is expected to begin raising a new fund for Asia either at the end of this year, or the beginning of next year, and needs to show returns to its investors ahead of that fundraising.

The global private equity firm is selling a number of assets in Australia, where, facing a disastrous loss from its foray into media group Nine Entertainment, it has stopped doing deals altogether and is cutting staff.

The Nine deal alone could see CVC lose more than $2 billion, knocking returns for investors in not one but four separate funds.

Infastech sells fasteners to the electronics, automotive, construction and aerospace sectors, and has 2,200 global employees, according to its website.

Bank of America, Goldman, Standard Chartered and Unitas declined comment. CVC could not be reached for immediate comment. Black & Decker did not reply to an email seeking a response.

The sources did not want to be identified as they were not authorised to speak to the media.