(Bloomberg) -- Carlyle Group Inc. is working with JPMorgan Chase & Co. and Morgan Stanley on options for aircraft maintenance services provider StandardAero, according to people familiar with the matter.

The private equity firm picked the investment banks as it weighs an initial public offering or sale of StandardAero, said the people, who asked not to be identified discussing confidential information. The Scottsdale, Arizona-based company could be valued in a transaction at about $10 billion, including debt, the people added.

Deliberations are ongoing and a final decision hasn’t been made on whether to pursue an IPO or a sale, the people said.

Representatives for Carlyle, StandardAero, JPMorgan and Morgan Stanley declined to comment.

Carlyle completed its purchase of StandardAero from Veritas Capital in 2019, according to a statement at the time that didn’t disclose terms of the deal. Reuters reported earlier this month that Carlyle was weighing options including a sale for StandardAero. 

(Updates to credit Reuters in final paragraph)

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