(Bloomberg) -- Thoma Bravo LLC is weighing a sale of J.D. Power and is working with a financial adviser to gauge interest in the consumer intelligence provider, according to people with knowledge of the matter.

The technology-focused buyout firm is seeking for J.D. Power — best known for its automotive research — to be valued in a deal at about $8 billion including debt, said one of the people, who asked not to be identified discussing confidential information.

Deliberations are still at an early stage and there’s no certainty they’ll lead to a transaction, the people said. A representative for J.D. Power referred inquiries to Thoma Bravo, which declined to comment.

Established in 1968, J.D. Power uses data and analytics to produce rankings and reviews across industries including automotive, financial services and health care. The company describes itself as a “pioneer” in the use of big data, artificial intelligence and algorithmic modeling to understand consumer behavior.

Chicago-based Thoma Bravo acquired J.D. Power in 2019 for undisclosed terms. According to a statement that year, it merged the company with data and software provider Autodata Solutions, with the combined firm based in Troy, Michigan.

The move by Thoma Bravo to explore a sale of J.D. Power comes with private equity firms putting portfolio company exits high on the agenda for 2024, as the industry seeks to return money to investors after a challenging period for exiting holdings. Investors are zeroing in on the pace of distributions — ratcheting up pressure on buyout firms to deliver in a tough dealmaking environment.

(Updates with context on private equity sales in final paragraph.)

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