Private equity firm Advent International’s exploration of a sale of CCC Intelligent Solutions Holdings [NASDAQ:CCCS] has been pulled, said three sources familiar with the matter.

Majority owner Advent began a search into the sale of the provider of software to the car insurance industry in September, according to a Reuters report.

Investment bank Morgan Stanley was tapped to advise CCC in its talks with potential acquirers, which included other buyout firms, said the same Reuters report. Bloomberg later reported that TPG and Bain were weighing a deal for CCC.

TPG and Bain were working together on a possible offer, one of the sources confirmed.  While things appeared to be progressing, no deal was ever certain, said a few of the sources.

Another of the sources said Bain had dropped out, the deal process was struggling, and the certainty of a deal was not high.

The parties could not “see eye to eye on price”, one of the sources said, but noted talks could resume. “Never say never,” sources said.

CCC has quality assets and provides mission-critical solutions, where Advent may be willing to partially roll in some of the proceeds with a bidder to help with an equity check, one of the sources said.

The Chicago, Illinois-based company was previously owned by Leonard Green and TPG before selling it to Advent in 2017. Advent took the company public via merger with a blank-check company in 2021.

Advent, TPG, and CCC declined requests for comment. Bain and Morgan Stanley did not respond to requests for comment.

CCC’s current market cap is USD 7.73bn.