Is this iPhone case company worth $2.5B? Goldman Sachs thinks so.
Otter Products LLC, the privately held company that makes the OtterBox protective cases for mobile phones, is exploring a sale that could value the company at more than $2.5 billion, including debt, according to people familiar with the matter.
Otter Products, founded in 1998 by entrepreneur Curt Richardson and owned by him and his family, has hired investment bank Goldman Sachs Group Inc to manage the sale process, the people said this week.
Some private equity firms have expressed interest in the company, the people added, cautioning that no deal is certain.
Looks like smartphone case maker Otterbox may be looking to cash in on its success to the tune of $2.5 billion. That would be quite the sale, if anyone were to take them up on it. Otterbox itself acquired fellow case maker Lifeproof last year.