Carlyle to take Sequa private

NEW YORK (CNNMoney.com) -- Private equity firm The Carlyle Group announced a $2.7 billion deal to buy diversified manufacturer Sequa Group early Monday, agreeing to pay a premium of 54 percent to Friday's closing price.

Under terms of the deal, Carlyle will pay $175 per share in cash for the company, which has seven distinct operating units and whose businesses include aerospace, automotive, metal coating, specialty chemical and industrial machinery.

Under terms of the deal Sequa (Charts) may solicit acquisition proposals from third parties until Aug. 23.

The Carlyle Group is one of a number of leading private equity firms reported to be looking at going public itself. One of its units, Carlyle Capital Corporation Ltd. began trading on Amsterdam's stock exchange on Wednesday, in an offering that raised $303.5 million.

Rival private equity firm Kohlberg Kravis Roberts filed for a $1.25 billion IPO on July 3. That same evening, rival Blackstone Group (Charts), which went public earlier this year, announced a $26 billion cash deal to take hotel chain Hilton (Charts, Fortune 500) private.

The Carlyle Group's most recent deal before Monday was a July 2 deal to buy nursing home operator Manor Care (Charts) for $6.3 billion.