According to sources familiar with the matter at hand, MKS Instruments Inc, a semiconductor equipment maker, has approached Atotech Ltd, a specialty chemicals group, with an acquisition offer.

The potential deal will see MKS expand it’s offerings in chip manufacturing through the addition of Atotech’s plating chemicals.

The offer comes a few months after Atotech was floated on the stock market by its private equity owner Carlyle Group Inc.

Sources have cautioned that there is no certainty that Atotech will engage in negotiations with MKS or that the proposal will materialize in a deal.

Sources have preferred the cover of anonymity given the that the matter is confidential. They did not reveal details of the offer.

Spokespersons for Carlyle and MKS declined comment; Atotech did not respond to requests for comments.

Atotech’s offerings are used while manufacturing household appliances, smartphones, heavy machinery and automotives.

Atotech’s shares are up by nearly 40% since Carlyle took the company public in February this year.

MKS has a market capitalization of $10 billion.

MKS considers acquisitions “core” to its strategy, having carried out 22 such deals in 2019.