Carlyle Group LP Takes On KKR & Co LP In Race For Reynolds and Reynolds-Reuters

Reuters reported that private equity firms Carlyle Group LP and KKR & Co LP have emerged as the lead contenders to take over Reynolds and Reynolds, a software company hoping to sell itself for $5 billion. Dayton, Ohio-based Reynolds, which provides business management software for auto dealers in North America and Europe, had hired technology-focused investment bank Qatalyst Partners to run a sale. The process has progressed and is now in its final stages, though no decision is expected before January. Reynolds may be sold to Carlyle or KKR for between $4 billion and $5 billion, less than the company had hoped.