(Bloomberg) -- KKR & Co. is considering selling LGC Group, the British scientific measurement and testing company, people familiar with the matter said.

The buyout firm is speaking to advisers as it reviews its holding in the business, which could fetch more than 1 billion pounds ($1.2 billion) in a sale, the people said, asking not to be identified because the deliberations are private. The deliberations are at an early stage, and KKR may decide to retain the company for longer, they said.

A spokesman for KKR declined to comment.

KKR bought LGC from Bridgepoint in 2016 after announcing the deal in December 2015 without disclosing terms. Since then, LGC has made a number of acquisitions including Axolabs in 2017, which added to the company’s analytical drug-development services, specialty reagents maker Berry & Associates in 2018 and a majority stake in Toronto Research Chemicals this month.

The more-than 175-year-old company’s revenue rose 18% to 331.2 million pounds in the fiscal year ending in March 2018, according to its annual report. Adjusted earnings before interest, taxes, depreciation and amortization rose 19% to 86.4 million pounds, the report showed.

LGC traces its origins to 1842 to a body created in London to regulate tobacco adulteration. It still provides independent chemical and bioanalytical measurements to resolve disputes relating to food and agriculture and advises the U.K. government. Previously known as Laboratory of the Government Chemist, the firm was privatized in 1996.

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

To contact the editors responsible for this story: Dinesh Nair at dnair5@bloomberg.net, Amy Thomson, Fion Li

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