Coty Inc. (COTY) is looking to sell off its professional hair and nail business unit, which could bring in as much as $8 billion. Included in the sale are the Clairol, Good Hair Day, and OPI nail care brands, as well as Coty’s Brazilian business division.

The beauty products maker is being courted by a series of global buyout firms, including Advent International, Bain Capital, Cinven, Clayton Dubilier & Rice LLC, KKR & Co., Unilever Plc, and Henkel AG, sources told Bloomberg.

The bid for the Coty division is expected to range from $7 billion to $8 billion, with bids already being prepared by interested buyers to come the first week of March, the sources told the news outlet. The bid competition could be reportedly strong as the buyout firms have access to cheap financing and large amounts of capital.

Coty is looking to sell the beauty unit as is tries to turnaround its business after a $965 million writedown on the value of the brands in 2019. According to the news outlet, Coty’s shares have dipped 48% over the last five years.

To help finance a deal for Coty, the company’s advisors are reportedly offering 6.5 times cash-paid leverage to the buyout firms. The professional hair and nail business unit had earnings of $450 million before interest, taxes, depreciation, and amortization, which could increase to $500 million after cost-cutting and carve-out gains, the sources for Bloomberg said.

Shares of Coty stock were down 1.0% as of 12:41 p.m. EST on Wednesday.

Makeup Check out a list of the major beauty product companies that don't test on animals. Pictured: A model during the Xiao Li show at London Fashion Week Spring Summer 2015 on Sept. 14, 2014 in London, England. Photo: Getty Images/Miles Willis