FTSE 100 private equity firm 3i Group has entered the bidding for Farrow & Ball, the upmarket maker of paint colours including Elephant's Breath and Mouse's Back.

3i tabled a second round bid for the company on Tuesday, according to a person familiar with the matter. According to a Reuters report late last month, Bain Capital, Carlyle Group, Investcorp and Ares Management were also working on bids for the asset.