Private equity firm Apax Partners has agreed to sell its majority stake in Advantage Sales and Marketing to two other private equity firms, Leonard Green & Partners and CVC Capital Partners.
Athough Apax did not reveal the price tag on the deal, Reuters reported it to be more than $4 billion, citing sources familiar with the negotiations. Irvine, Calif.-based ASM provides outsourced sales and marketing services for a variety of industries, including retail and food service.
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