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KKR looks to sell Northgate’s public sector unit

19 Aug 2014

poundsPrivate equity major KKR is reportedly planning to carve out and sell the public sector unit of its software company Northgate Information Solutions.

KKR has hired Rothschild to manage the sale, which could value Northgate Public Services (NPS) at around $600m, said Reuters, citing two sources familiar with the situation.

NPS is expected to post a turnover of £195m and an EBITDA of £50m in the fiscal year to end-April 2015.

KKR bought Northgate Information Solutions in a £593m take-private deal in 2008.

Meanwhile, KKR is looking to float Acciona Energia International and has hired JP Morgan and Goldman Sachs to manage the IPO.

Earlier this month KKR-backed car dealer Rundong Auto Group raised $124m at its Hong Kong Stock Exchange IPO.

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