Bain Capital, via sellside banks JP Morgan and Jefferies, has distributed teasers for the upcoming sale of Kantar Media in anticipation of a post-summer launch, according to two sources familiar with the situation.

The sellside has hosted fireside chats and management presentations with several potential suitors, one of the sources said. CVC Capital Partners [AMS:CVC], Cinven and Blackstone [NYSE: BX] are among the financial sponsors to have signalled early interest, the other source said.

A formal process is expected to kick off after the US Labor Day holiday following the release of a more detailed teaser document over the summer, the two sources said.

First-round bids are expected in mid-October, one added. Kantar Media is being marketed off 2024 EBITDA of USD 120m and could be valued at up to USD EUR 1.5bn in a sale, as reported by this news service in March.

Bain acquired a 60% stake in Kantar Group, the parent company of Kantar Media, in 2019, with advertising group WPP [LON:WPP] owning the remainder.

Kantar Media, which conducts broadcast audience measurement in over 60 countries, generated revenues of USD 353m in the nine months to September 2023, up 8% compared to the same period the year before, according to Kantar’s financial statements.

Representatives for Bain, JP Morgan, Jefferies, CVC Capital Partners, Blackstone and Cinven declined to comment.