Private equity firms TA Associates and Warburg Pincus are exploring a sale of portfolio company Procare Solutions, a provider of child-care management software, that could value the business at nearly $2bn, including debt, according to a report by Reuters.
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The auction for the firm, which generated earnings before interest, taxes, depreciation and amortisation (EBITDA) of about $70m last year and expects cash flow to touch $100m in 2023, is expected to attract interest from private equity firms, according to Reuters’ sources.
TA Associates took a majority stake in Procare in May 2015 before selling a part of its stake in the company to Warburg Pincus in 2018.
Source: Private Equity Wire
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