NEW YORK and DAYTON, Ohio -

When Auto Remarketing reached Reynolds and Reynolds today to get reaction to a  Reuters report about a potential sale, spokesperson Thomas Schwartz said, “As as a matter of policy and practice, I’m not going to comment on rumors in the marketplace.”

The report citing several sources familiar with negotiations indicated that Reynolds is looking into a sale to a private equity firm. Sources said a deal could be worth nearly $5 billion.

The report published online on Monday said Reynolds has hired technology-focused investment bank Qatalyst Partners to manage the process and is in talks with a few major private equity firms about a leveraged buyout.

Deutsche Bank is also helping Reynolds and Reynolds with a potential sale and has offered seller financing to potential buyers, the sources added on Monday.

Two of the sources said Reynolds, which provides DMS solutions to dealers in North America and Europe, has more than $500 million in annual earnings before interest, tax, depreciation and amortization (EBITDA) and could be valued at around 10 times EBITDA.

Reuters reported that all of its sources asked not to be identified because the process is not public.

The original report can be found here.