Thoma Bravo is preparing for an initial public offering (IPO) or sale of Trader Corp, an Etobicoke, Ontario-based digital automotive marketplace, according to a report by the Globe and Mail.
Sources told the Globe and Mail that Thoma Bravo is expected to launch an IPO in the next six weeks that would allow it to sell a portion of its interest in Trader.
The U.S. private equity firm is also willing to sell the entire company if a buyer steps forward, the sources said.
Thoma Bravo recently hired a syndicate of investment banks that includes Goldman Sachs and RBC Capital Markets to advise on a potential IPO or sale, the report said.
Thoma Bravo acquired Trader in 2016 for about $1.57 billion. The seller was U.K. private equity firm Apax Partners.
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