(Bloomberg) -- KKR & Co. is considering a sale of its Austrian and German locomotive leasing business, ELL GmbH, people familiar with the matter said.

The buyout firm is in early discussions with potential advisers as it reviews its holding, the people said, asking not to be identified because the deliberations are private. ELL could fetch a valuation of more than 1 billion euros ($1.1 billion) including debt, the people said.

KKR has been an investor in ELL through its global infrastructure fund since 2014. The company acquires locomotives and leases them to the European railway industry across continental Europe.

Any sale would add to the $156 billion of private equity deals in Europe this year, according to data compiled by Bloomberg. A representative for KKR declined to comment.

KKR has also been considering an exit from British scientific measurement and testing company LGC Group, which could fetch more than $2 billion including debt, Bloomberg News has reported. The sale has attracted initial interest from suitors including Thermo Fisher Scientific Inc., Danaher Corp., Blackstone Group Inc. and Carlyle Group LP, people with knowledge of the matter said this month.

To contact the reporters on this story: Dinesh Nair in London at dnair5@bloomberg.net;Sarah Syed in London at ssyed35@bloomberg.net

To contact the editors responsible for this story: Dinesh Nair at dnair5@bloomberg.net, Ben Scent, Neil Callanan

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