NEW YORK, Sept 25 (Reuters) - Zeus Company Inc, a family-owned manufacturer of components used primarily in medical equipment and devices, is exploring options including a sale that could value the company at $4 billion or more, including debt, people familiar with the matter said.

The Orangeburg, South Carolina-based company is in the early stages of a sale process and is working with investment bank Goldman Sachs Group to establish whether a deal would be financially attractive, the sources said.

Zeus, which uses biomaterials to make implantable parts and other products such as catheters components, is controlled by the family of its founder Frank Tourville, who passed away in 2021.

The auction for Zeus is expected to attract interest from strategic buyers and private equity firms, the sources said.

The owners of Zeus could decide not to go through with a transaction, the sources added, requesting anonymity because the matter is confidential.

Zeus did not immediately respond to requests for comment and Goldman Sachs declined to comment.

Zeus' 12-month earnings before interest, taxes, depreciation and amortization (EBITDA) is approaching $200 million, the sources said.

Founded in 1966 in New Jersey by Tourville, Zeus started out as a maker of tubing that is used in medical applications. The company moved its headquarters to South Carolina in the 1980s and branched out to new sectors and international markets in the following decades.

Zeus now has a workforce of over 1500 employees, spread across nine facilities operating in the U.S., Europe and Asia, according to its website.

The company uses extrusion, a process in which materials such as plastics are molded into different shapes, to produce components that are sold to clients in industries such as medical devices, aerospace and automotive. Zeus now makes parts that are used in grills, aircraft, 3D printing and surgical suites, according to its website.

A potential deal for Zeus would follow a few other transactions this year involving providers of research and manufacturing services to the life sciences industry.

In March, Sartorius acquired French lab technology company Polyplus for 2.4 billion euros ($2.54 billion) from private investors.

In May, an investor consortium comprising Elliott Investment Management, Patient Square Capital, and Veritas Capital acquired clinical research provider Syneos Health for more than $7 billion, including debt. ($1 = 0.9447 euros) (Reporting by David Carnevali in New York; Editing by Josie Kao)