Investment bank Evercore Partners is running the auction process, the people said.
Carlyle formed the company by acquiring all of the assets of UniBoring out of bankruptcy in November 2005, and renamed it Diversified Machine. It added aluminum and iron casting capabilities over the last six years through several acquisitions, including buying assets from once-bankrupt auto parts suppliers such as Hayes Lemmerz and Metaldyne.
Howell, Mich.-based Diversified Machine’s customers include General Motors Co., Ford Motor Co. and TRW Automotive. The company has about $60 million in annual EBITDA, one of the people said.
Representatives for both Carlyle and Evercore declined to comment.
Diversified Industrials is among a number of formerly bankrupt auto industry assets that have gone on the auction block or tapped markets for an initial public offering this year as vehicle sales recover from pre-recession lows.
(Soyoung Kim is a correspondent for Reuters in New York.)