Bain Capital, KKR in Running for MYOB

Bain Capital and Kohlberg Kravis Roberts & Co. are among the potential buyers for Australian software maker MYOB, Reuters reported. A sale of the company could fetch around $1 billion. MYOB is owned by Archer Capital and HarbourVest Partners, private equity investors that picked up the company in 2008 for roughly 450 million Australian dollars.

(Reuters) – Bain Capital and Kohlberg Kravis Roberts & Co are among potential bidders for Australian software company MYOB Ltd, an asset which could be sold for around A$1 billion ($1 billion), three sources familiar with the matter said.

Archer Capital and HarbourVest Partners LLC, which acquired MYOB for around A$450 million in 2008, have hired UBS to advise on the sale, two of the sources told Reuters on Monday.

The sources declined to be named because they were not authorised to talk to the media.

UBS and KKR declined comment. Archer and HarbourVest could not immediately be reached for comment.

Bids are expected this week, according to one of the sources. The asset has an EBITDA of around A$100 million, said two sources. ($1 = 0.958 Australian Dollars) (Reporting by Stephen Aldred; Editing by Denny Thomas and Anshuman Daga)