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(Bloomberg) — Partners Group Holding AG is looking at resurrecting the sale of its public sector software firm Civica in the second half of the year, after scrapping previous plans to cash out at least twice before.

The Swiss investment firm has hired boutique firm Arma Partners to gauge interest in the UK company from potential buyers, people familiar with the matter said, asking not to be identified discussing confidential information. The process has yet to start formally, but Partners Group is looking to fetch valuations of around $2 billion for Civica. 

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It bought Civica from Canada’s Omers Private Equity in 2017 for more than £1 billion ($1.25 billion) including debt.

Partners could start a sales process in the second half of the year if it decides to proceed, the people said. 

The investment firm is reviving the sale as dealmaking in Europe’s tech sector picks up after a brief hiatus amid the sell-off in the industry’s stocks. Private equity firms Silver Lake Management and Bain Capital are in the race to acquire Germany’s Software AG, while Swiss banking software company Temenos AG has asked for fresh expressions of interest from private equity firms, Bloomberg News reported in April.

Partners had been working with Goldman Sachs Group Inc. when it was weighing a sale of Civica in 2021, Bloomberg News reported at the time. The firm was also reported to be considering a sale in 2019, shortly before the onset of the coronavirus pandemic. 

London-based Civica, which was founded in 2002, provides specialist software and outsourcing services to governments, healthcare providers, housing associations and schools. 

Spokespeople from Partners Group and Arma Partners declined to comment. Civica didn’t immediately respond to a request for comment.