(Bloomberg) -- KKR & Co.’s attempt to sell its Japanese power tool and life science equipment maker Koki Holdings Co. has stalled, according to people familiar with the matter.

Potential bidders including industry players couldn’t match KKR’s value expectations for the business at more than $2 billion, the people said, asking not to be identified because the matter is private. Restrictions on travel to Japan as well as higher supply chain costs also had a material impact on a potential transaction, the people said.

While the deal has been put on hold for now, the New York-based private equity firm could resume a sale of the business once conditions improve, the people said.

KKR had been exploring a sale of Koki after other industry players and buyout firms showed preliminary interest, Bloomberg News first reported in September.

A representative for KKR declined to comment.

KKR bought Hitachi Koki Co. in 2017 for about $1.3 billion after completing a tender offer for the listed entity, whose biggest shareholder was Japanese conglomerate Hitachi Ltd. It later changed its name to Koki Holdings and re-branded its power tools to HiKOKI. 

The company makes tools for uses including metalworking, woodworking, pneumatic, gardening and in the household.

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