Several private equity firms are reportedly in talks to buy Dutch business software company Exact Holding, which could be valued at around €1bn.
These private equity firms include Apax and KKR, while EQT and Hellman & Friedman have dropped out of the process after showing interest, several sources told Reuters.
Rothschild has been hired to manage the sale of the Euronext-listed company, which currently has a market cap of €617m.
“Private equity interest around Exact has been mounting since (sector peer) UNIT4 was snapped by Advent,” said one of the people.
Advent bought UNIT4 for €1.17bn in cash in November last year, which represented a 54.8 per cent premium compared to the average closing share price in the 12 months prior to that date.
One of Exact’s suitors, Apax Partners, sold Advantage Sales & Marketing to peers CVC Capital and Leonard Green & Partners for more than $4bn.
AltAssets reported that the deal generated a return of four times for the firm.
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