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Sept. 3 (Bloomberg) -- Buyout firms CVC Capital Partners Ltd and Onex Corp. are through to the second round of the auction for Swiss drinks carton manufacturer SIG Combibloc Group AG, said people with knowledge of the matter.

Their joint offer for the Neuhausen, Switzerland-based company faces competition from Bain Capital Partners LLC and BC Partners Ltd. along with two others, said three people with knowledge of the matter who asked not be identified because they weren’t authorized to speak publicly. The bids are valued at about $5 billion, people familiar said in July.

SIG appointed Goldman Sachs Group Inc. to examine options for the business earlier this year. Second round bids are expected by the end of September, according to the people.

SIG, which was bought by New Zealand-based Rank Group Ltd. in 2007 for 2.8 billion Swiss francs ($3.1 billion), had sales of 1.68 billion euros ($2.2 billion) in 2013, according to its website. The company, which was founded in the 1850s as a railway carmaker, employs 5,100 employees in about 40 countries.

Spokesmen for Bain Capital, BC Partners and CVC declined to comment. Onex and SIG did not respond. Goldman Sachs didn’t immediately respond to an e-mail seeking comment.

To contact the reporter on this story: Kiel Porter in London at kporter17@bloomberg.net To contact the editors responsible for this story: Mark Bentley at mbentley3@bloomberg.net Simone Meier, Edward Evans