Private equity firm TA Associates and Partners Group have mandated Arma Partners on the sale of Dutch software firm Unit4, according to 9fin sources.

The firm will be marketed off EBITDA of between €150m and €160m, according to sources.

Banks and direct lenders will compete for the asset, but financing is likely to end up in the syndicated market due to the large ticket size, 9fin sources said.

Unit4 has €875m of 2028 term loan debt outstanding, alongside a €100m RCF due 2027. Its term loans are currently trading above par, according to 9fin data.

9fin sources had been expected a sale of the business to kick off sometime in 2025 since last year. Bloomberg also reported last month TA Associates was considering a potential sale.

TA Associates acquired a majority stake in Unit4 from Advent International in 2021 in a deal worth over €2bn. Partners Group also invested in the Dutch software firm, according to a TA Associate release at the time.

Headquartered in Dordrecht, the Netherlands, Unit4 provides enterprise cloud applications, according to its website. In May, the company launched an artificial intelligence agent to automate enterprise resource planning (ERP) workflows for its clients.

Reaching more than 4,700 customers globally, Unit4’s regional offerings include western Europe, DACH and eastern Europe, the UK and Ireland, the Nordics, North America and Asia-Pacific, the company also said on its website.

Unit4 and Partners Group declined to comment. Arma and TA Associates did not return requests for comment.