Constructionline is currently owned by the Department for Business, Innovation & Skills (BIS) but operated by Capita under a concession agreement.
The Government said a sale would “allow Constructionline to grow and achieve its full potential, including offering new additional services for the benefit of businesses.”
Potential buyers are now being invited to submit their interest for purchasing the service.
A BIS spokesperson said: “Constructionline offers valuable services to the construction industry, particularly small and medium sized businesses.
“It has grown significantly under Government ownership, and now is the time to enable it to expand further to meet the needs of a changing industry.
“Gaining access to private capital will enable Constructionline to become even more competitive and branch out into new markets.
“Bids will be welcomed from buyers who plan to grow the services provided by Constructionline.”
The services was launched by Government in 1998 and has helped remove the administrative burden of finding quality suppliers for thousands of public and private sector clients.
Through its database of over 22,000 suppliers, Constructionline links buyers with suitable contractors, ensuring supplier data such as health and safety, technical ability and financial information is kept up to date.
Suppliers also benefit from access to over 8,000 buyers.