Building Automation Solutions, based in Caspian Road, Altrincham, is attracting interest from several outfits after enjoying a run of success since it was spun out of Siemens Building Technologies UK just over two years ago.
The M.E.N. understands a deal could be completed early in the new year.
Barclays Ventures, LDC, Spirit Capital and Close Brothers are believed to among a clutch of venture capital outfits mulling bids for a stake in the company.
Corporate finance experts at Dow Schofield Watts, based in Warrington, are running the process to attract investment.
BAS is owned by Steve Dalton and Bob Savage, who led the buyout from Siemens in July 2006.
It employs more than 200 staff, including engineers and consultants, across its headquarters and six other offices in England and Wales. It is understood turnover has risen to more than £25m.
BAS is the biggest independent controls company in the UK, providing energy and project management services and support.
Sources in Manchester said the company had generated a good deal of excitement among the region's private equity specialists since it was put on the market earlier this year.
One said: "A lot of people are looking at it - the two directors have done a cracking job with the business since they acquired it. A deal could be completed in early 2009."
Venture capital deals have been thin on the ground in Greater Manchester recently but there are hopes of a revival over the coming months if the banking crisis and credit squeeze ease.
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