Hellman & Friedman LLC is exploring the sale of OpenLink Financial LLC, a U.S. software provider to the commodity, energy and financial services sectors that could be valued at over $1 billion, including debt, people familiar with the matter said.
Hellman & Friedman, a private equity firm, bought OpenLink from Carlyle Group LP in 2011 for an undisclosed sum. It is working with investment bank Centerview Partners on exploring a sale of OpenLink, the sources said.
Hellman & Friedman and OpenLink did not respond to requests for comment. Centerview declined to comment. The sources asked not to be identified because the deliberations are confidential.
Based in Uniondale, New York, OpenLink has offices in 10 countries and counts BP Plc, Chevron Corp, Bank of America Corp and Conagra Brands Inc among its clients, according to its website.
OpenLink’s software also helps manage trading operations and risk management for its customers. It generates 12-month earnings before interest, taxes, depreciation and amortization of about $80 million, one of the sources said.
Last month, OpenLink appointed Rich Grossi as its chief executive officer, following John O‘Malley’s elevation to the role of executive chairman.