(Bloomberg) -- Avetta LLC, a compliance software provider, has attracted takeover interest from private equity firms including EQT AB and Warburg Pincus, people with knowledge of the matter said.

Bain Capital is also exploring a possible bid for the business, according to the people, who asked not to be identified discussing confidential information.

Bloomberg News reported in February that Avetta’s owner, Welsh Carson Anderson & Stowe, is working with a financial adviser to gauge interest in the US-based company.

Avetta’s projected 2024 earnings before interest, tax, depreciation and amortization is about $125 million, the people said. The company could achieve a valuation of more than 25 times that figure in a sale, valuing it at over $3 billion including debt, they said.

Deliberations are ongoing and there’s no certainty they’ll lead to a transaction, the people said. Representatives for Welsh Carson and Avetta didn’t immediately respond to requests for comment, while spokespeople for EQT, Warburg Pincus and Bain Capital declined to comment.

Founded in 2003, Avetta operates a cloud-based supply chain risk management and commercial marketplace platform for suppliers and contractors. The company in January announced the launch of an OpenAI-powered “risk assistant” that it said will accelerate contractor compliance and safety.

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