Fletcher Building Limited (NZSE:FBU) is understood to be seeking an investment bank to sell its Tradelink business that it indicated last week would be sold. Goldman Sachs has been Fletcher Building's defence adviser, but it is understood that smaller boutique advisory houses have been approached for a sale of the plumbing supplies business. Dealmakers have been giving thought as to who could be the buyer for the business that is up against dominant industry plumbing player Reece.

While private equity firms could take a look, another option is that an existing trade buyer could buy the business that is based offshore. One left field candidate could be the Australian listed retailer Metcash Limited (ASX:MTS), which owns Total Tools and operates Mitre 10 stores, although many believe it could sidestep the auction.