MRI Software's PE Owners Eye $10B Sale or IPO: Reuters

MRI Software's private equity owners are considering strategic options, including a potential sale or initial public offering (IPO), which could value the real estate software provider at up to $10 billion, inclusive of debt, according to a Reuters report. The ownership consortium, comprising TA Associates, Harvest Partners, and GI Partners, has reportedly engaged Goldman Sachs as advisors to guide the process, anticipated to unfold within the next year. This exploration of strategic alternatives was prompted by unsolicited acquisition inquiries from firms in the real estate and technology sectors. Headquartered in Solon, Ohio, MRI Software offers a comprehensive suite of tools for managing commercial and residential real estate portfolios, encompassing accounting, leasing, and financial management. A successful transaction at the projected valuation would represent a significant return on investment for its private equity stakeholders. MRI Software is reportedly nearing $1 billion in annual revenue and generating approximately $400 million in earnings before interest, taxes, depreciation, and amortization (EBITDA). The company has achieved a consistent annual growth rate of 10%. Notably, over half of MRI Software's revenue is derived from international markets, underscoring its substantial global footprint. Representatives for MRI Software, TA Associates, GI Partners, and Goldman Sachs declined to comment when contacted by Reuters. Harvest Partners did not respond to requests for comment.