Business · Companies · 3 hrs ago
Five private equity firms consider bids for Spanish software company esPublico
Five major private equity firms are considering bids for esPublico, a Spanish software company that serves local governments.
JPMorgan, which is advising on a possible sale, has set November 10 as the deadline for non-binding offers.
The company could be valued at more than €1 billion, according to market sources.
Private equity firm TA Associates has owned 76% of esPublico since buying it in 2022, when the company was valued at about €500 million.
TA may reinvest alongside a new investor to remain a major shareholder, while founder Ángel Asín is also expected to reinvest some of his proceeds.
The company has expanded into Portugal and may next enter France, while also growing its work with regional administrations in Spain.
The sale could bring in new owners as questions remain about AI's impact on the business.
Five private equity firms are considering bids for Spanish software company esPublico.
JPMorgan has set November 10 as the deadline for non-binding offers.
The company could be valued at more than €1 billion in a sale, according to market sources cited by Expansión.
Current investor TA Associates may reinvest alongside a bidder and remain a major shareholder.
EsPublico provides services to local governments and reported nearly €86 million in revenue in 2025.
- Who
- Advent, Blackstone, Cinven, Hg and Permira are among the interested firms. TA Associates may also reinvest.
- What
- The firms are considering bids for esPublico.
- When
- Non-binding offers are due November 10.
- Where
- Spain. EsPublico is a Spanish software company.
- Why
- The company is the subject of a potential sale. The sources do not state why the firms are interested.
This story does not have two clearly opposing sides.
TA Associates acquired esPublico at a valuation of around €500 million.
EsPublico reported nearly €86 million in revenue and €44 million in EBITDA.
Expansión reported that JPMorgan was advising on the sale process.
Candidates are due to submit non-binding offers.
- Interested firms
- Advent, Blackstone, Cinven, Hg and Permira
- Offer deadline
- November 10
- Possible valuation
- More than €1 billion
- TA Associates' stake
- 76%
- 2025 revenue
- Nearly €86 million
- 2025 EBITDA
- €44 million