(Bloomberg) — Cinven has teamed up with the Abu Dhabi Investment Authority to weigh a joint bid for KKR & Co.’s scientific measurement and testing company LGC Group, people familiar with the matter said. Cinven and the Abu Dhabi sovereign wealth fund are working with a financial adviser as they consider making an offer, the people said.

KKR has started a formal sale process and invited suitors to submit first-round bids for the business by next week, the people said, asking not to be identified as the matter is private.

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LGC could fetch more than $2 billion including debt in a sale, people familiar with the matter have said previously.

ADIA, one of the world’s largest sovereign funds, is stepping up its dealmaking with buyout firms as it allocates more money to direct investments. It has also teamed up with private equity firms Advent International and Cinven to consider a joint bid for Thyssenkrupp AG’s elevator unit, according to people familiar with the matter. Earlier this year, it was part of a consortium that entered exclusive talks to acquire Nestle SA’s $10 billion skincare business.

Representatives for ADIA, Cinven and Advent declined to comment, while a representative for KKR didn’t immediately respond to a request for comment.

LGC provides independent chemical and bioanalytical measurements. The sale has attracted interest from from suitors including Thermo Fisher Scientific Inc. and Danaher Corp. and other private equity firms such as Blackstone Group Inc., Carlyle Group LP, CVC Capital Partners and EQT Partners, people familiar with the matter said last month.

–With assistance from Eyk Henning.