(Bloomberg) -- Renishaw Plc, the British engineering firm exploring a sale, is attracting initial interest from Danaher Corp. as well as Swedish rival Hexagon AB, according to people familiar with the matter.

Danaher, the $159 billion medical equipment maker, is considering teaming up with Fortive Corp., the industrial company it spun off in 2016, to bid for Renishaw and then split up the business, the people said. Renishaw may also approach rival engineering and precision measurement companies such as Ametek Inc., Mettler-Toledo International Inc., Japan’s Keyence Corp. and France’s Schneider Electric SE, the people said.

A small number of private equity firms have separately shown interest, the people said, asking not to be identified because the information is private. Renishaw is working with adviser UBS Group AG on the process.

Renishaw announced this month it is putting itself up for sale after the two founders of the almost 50-year-old firm decided to sell their holdings. Executive Chairman David McMurtry and Deputy Chairman John Deer, who together own about 53% of the company, told the board they prefer to shed their stakes entirely.

Shares of the Gloucestershire-based firm have gained 4.2% in London trading this year, valuing the company at 4.4 billion pounds ($6 billion). Renishaw trades at 53.5 times this financial year’s estimated earnings, according to data compiled by Bloomberg. The need to offer a premium to that already-high valuation could discourage some potential bidders, the people said.

Renishaw’s main business is selling precision measurement products that help manufacturers produce and inspect components and keep machinery and industrial automation systems running. It also specializes in 3D printing parts from metal powder and sells products to a diverse set of industries including health care.

The sale process is still in early stages and potential suitors could decide against bidding or Renishaw could opt to remain independent, the people said.

Representatives for Fortive, Hexagon, Renishaw and Schneider declined to comment. Spokespeople for Ametek, Danaher, Keyence and Mettler-Toledo didn’t immediately respond to requests for comment.

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