Partners Group Said to Weigh $2 Billion Sale of Tech Firm Civica

Partners Group Holding AG is considering a fresh attempt to sell U.K. software provider Civica Group, which could be valued at more than $2 billion, people familiar with the matter said.

The Swiss investment firm is working with Goldman Sachs Group Inc. to gauge interest from a select group of private equity firms, the people said, asking not to be identified discussing confidential information.

London-based Civica, which was founded in 2002, provides specialist software and outsourcing services to governments, health-care providers, housing associations and schools. Deliberations are in the early stages, and there’s no certainty they’ll progress to a formal sale process, the people said.

Representatives for Partners Group and Goldman Sachs declined to comment, while calls to Civica’s office weren’t answered.

Partners Group was considering a sale of the company in late 2019, shortly before the onset of the coronavirus pandemic, Bloomberg News reported at the time. It bought Civica from Canada’s Omers Private Equity in 2017 for more than 1 billion pounds ($1.4 billion) including debt.

Any transaction would add to the $38 billion of deals targeting European software companies announced this year, nearly quadruple the volume during the same period in 2020, according to data compiled by Bloomberg. French buyout firm Astorg Partners SAS is considering a sale of AutoForm Engineering, the Swiss maker of industrial software used by BMW AG and Ford Motor Co., Bloomberg News reported this week.

Partners Group has pursued a flurry of exits in recent months. The private equity firm agreed in March to offload U.S. software developer GlobalLogic Inc. for $9.5 billion including debt. It also sold laboratories firm Cerba HealthCare to EQT AB earlier this year for an enterprise value of more than 4.5 billion euros ($5.5 billion).

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