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Report: XIO plans to sell J.D. Power

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Report: XIO plans to sell J.D. Power

XIO Group is considering selling J.D. Power, a U.S. customer survey and car rating company, Reuters reported, citing people familiar with the matter.

The China-backed private equity firm is seeking to profit on its investment in a deal that could value its portfolio company at about $1.9 billion, including debt, the sources said.

The investor has tapped investment bank Evercore Partners Inc. to oversee the sale process for J.D. Power, which has a 12-month EBITDA of approximately $135 million, they added.

XIO, J.D. Power and Evercore did not comment on the matter, according to the report.