Eurazeo reportedly in second round for Hg's Trace One

unquote" sister publication Mergermarket reported on the planned sale, citing a source close to the deal and two sources familiar with the situation. 

Bidders in the second round that have dropped out include private equity house Apax Partners, a source familiar added.

The company's EBITDA has been marketed somewhere between €8-10m and the asset is expected to be valued at €100-150m, a source familiar with the situation told Mergermarket.

Arma Partners is advising Hg on the sale process, one of the sources familiar and a source briefed said.

Eurazeo declined to comment. Hg did not return a request for comment.

In March 2016, Hg backed the company for an undisclosed sum, using its Mercury Fund. The transaction saw participation from the GP's LSE-listed trust, which provided £4.5m of equity in the deal and is also invested in Hg funds.

Headquartered in Paris, Trace One is a SaaS platform for the retail and private-label goods sectors. The company's platform is designed to help retailers develop and exchange private label product specifications with their suppliers, and comply with industry regulations.

Trace One has offices in Paris, Germany, the UK, Spain, Portugal and North America. It was founded in 2001 by Jerome Malavoy.

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