Private equity firm Apax Partners is reportedly looking to exit its investment in consumer marketing services company Advantage Sales & Marketing (ASM).
The company could be valued at between $3bn and $4bn, said Reuters, citing people familiar with the matter.
Apax has hired Bank of America Merrill Lynch to run an auction for ASM, which has drawn interest from other private equity firms.
The firm bought ASM from peer JW Childs Associates and Bank of America Merrill Lynch’s private equity unit in 2010 in a deal that the sources said valued it at $1.8bn.
Apax is also reportedly planning to exit legal and commercial real estate publishing house ALM Media for more than $500m.
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