The private equity owners of Raet, the biggest Dutch provider of payroll and human resources software, are planning a 400 million euro-plus ($542 million) sale, people familiar with the matter said. Raet's owners, Dutch buyout firm Taros Capital and global private equity firm Advent International, have interviewed banks recently in preparation for a sale, the people said on Monday. An auction could begin as soon as April, one said. The firm could be worth about 400 million euros, or roughly 8 times earnings before interest, tax, depreciation and amortisation (EBITDA), two of the people said -- although any buyer would have to overcome concerns about the growth profile of a company that already enjoys 35 percent market share. Advent and Raet referred requests for comment to Taros. A Taros official declined to comment.
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