Kirkland's Inc., the Nashville-based home decor retailer, could be a potential target for private equity firms in the coming months, according to industry sources. The arts and crafts purveyor, with more than $80 million in cash on its balance sheet and no debt, would be an ideal leveraged buyout candidate. And the company would not be adverse to private equity approaches, as it was previously owned by PE firm Advent International, according to a source close to the company. The retailer has an enterprise value of over $220 million, equating to a multiple of about 5.5 times the $40 million in EBITDA estimated for the fiscal year ended Feb. 1. That's below the unaffected sevene times EBITDA multiple private equity firms look for when considering potential targets. The Deal's Richard Collings reports from Wall Street.