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Private equity groups Advent International and Platinum Equity are competing for the purchase of $2 billion worth of assets from DuPont, including Kevlar’s bulletproof brand.
The rival group is at the forefront of protecting protective equipment assets and is expected to submit final round bids for DuPont Kevlar and Nomex this month.
The Delaware-based chemical manufacturer sold the brand after announcing plans to restructure by November, including spinning its electronics division into another listed company.
The reorganization follows those undertaken by American brands such as Kellogg and General Electric. DuPont wants to reposition its position as a diverse industrial group focused on materials science and engineering. As part of the shift, the moisture division also abandoned its plans to offload.
People said DuPont still chose to keep Kevlar and Nomex, and there could be other bidders appear. DuPont, Platinum and Advent declined to comment.
DuPont developed both brands known for its synthetic fiber protection devices in the 1960s. Nomex is a heat and flame resistant material used by firefighters, soldiers and race car drivers. Kevlar is known for its bulletproof vest and body armor.
DuPont announced its split plan in 2024 to unlock the shareholders’ parts.
The corporate giant was formed in 2017 by the $130 billion Dow and DuPont Mega Margar. Following the merger, Dowdupont parted ways with Corteva Agriscience, Dow and Dupont.
DuPont posted strong first quarter revenue in May, falling below analyst expectations, but like other US manufacturers, it faces the threat of trade tensions between Washington and Beijing.
