KKR, TPG Capital and Bain Capital have also reportedly showed interest in the business.
Hellman & Friedman and JMI have extracted dividends of over $1.5bn over their six-year ownership, having invested only $753m in equity.
In 2013, Kronos arranged a $490m dividend recapitalisation.
Blackstone senior managing director Chinh Chu said, “Kronos has the unique combination of industry leadership and expertise, entrepreneurial spirit, market-leading products, and a loyal customer base.
“The company has tremendous potential and we are excited to partner with the Kronos management team on growth initiatives.”
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