(Bloomberg) — Private equity firm HG is considering options for French software company Septeo Inc, including selling a minority stake in a deal that could value the company at up to 4 billion euros ($4.3 billion), people familiar with the matter said.
HG is in talks with potential advisers as it prepares to gauge interest from potential investors, the people said, asking not to be identified discussing the private matter.Septeo may attract bids from other private-equity funds, and a formal process could begin later this year, the people said.
The talks are at an early stage and Hg could decide against the deal, the people added. A representative for Hg declined to comment.
Based in Montpellier, southern France, Septeo provides legal software to clients including law firms and human resources departments. The company has more than 3,000 employees across France, Spain, Belgium, Switzerland, Tunisia and North America, according to its website. HG invested in the company in 2020.
Buyout funds are stepping up exits from portfolio companies as deal conditions begin to improve after a long economic downturn and are also under pressure to meet growing investor demands for capital returns.
TA Associates is considering selling French software company Orisha and is expected to invite a bid soon, Bloomberg reported on Wednesday. Arial Bank and its majority shareholder Advent International agreed this week to sell the bank's software unit for an enterprise value of 3.9 billion euros.
–With assistance from Swetha Gopinath.
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