5.11 Tactical, a company that makes law enforcement uniforms, guns weapons and combat wear, is in talks for a possible initial public offering by owner TA Associates, a private equity company.

The company, which makes Nascar uniforms as well, is in very early discussions with investment banks,and could be valued anywhere from $650 – 800 million based on its earnings, according to the Financial Times. TA Associates may also simply sell the company instead, according to sources familiar with the matter.

If 5.11 Tactical does end up being sold, it would likely be at a sizable profit for TA Associates, which paid $200 million for its majority stake in the company in 2007.

In buying 5.11 Tactical, TA Associates got a stable company that has contracts with police, firefighters and the military, the report said. It also sells apparel, footwear, and bags – with the marketing slogan “Always Be Ready.”

U.S. retail mergers and acquisitions currently total over $21.8 billion for the first six months of 2014, according to Thomson Reuters. That’s double the 2013 figures and the strongest start for the sector since 2006.