A leading private equity firm BC Partners will be selling around 30% stakes in Mergermarket Group to Singapore's sovereign wealth fund GIC.
Global financial intelligence firm Mergermarket was snapped up by BC Partners through a carve-out from Pearson Plc in 2014 for Â£382 million. According to the private equity firm, Mergermarket delivered double-digit revenue growth annually through working closely on a number of key initiatives including the transformation of the company's IT Platform, enhancing data offering, and supporting strategic add-on acquisitions.
Following the transaction, BC Partners will still hold more than 60% in the Mergermarket. It will work alongside GIC as the financial intelligence firm opens its next chapter of growth.
BC Partners Managing Partner Nikos Stathopoulos said the firm invested in Mergermarket due to its must-have data and information, attractive subscription-based business model, consistent track record of growth and strong management team, all of which they are willing to share with GIC.
"The company has gone from strength to strength over the past three years of our ownership and we are delighted to welcome GIC as our new partner in Mergermarket's next growth phase," he said.
GIC Private Equity CIO Choo Yong Cheen said in a statement that the Mergermarket is a clear leader in its sector. She noted how impressive that it is being led by a strong management team.
"The company provides subscribers with essential and often proprietary content, driving strong renewal rates and impressive long-term growth. We look forward to working with BC Partners and supporting the business in achieving its ambitions over the coming years," he noted.
Meanwhile, Mergermarket Group CEO Hamilton Matthews noted how the acquisition can help the group achieve growth together with its 1,200 staff in 65 different locations worldwide.
"Our business has grown tremendously and it is a testament to the hard work of everyone at the group that we are now joined on our ongoing journey by another prestigious investor such as GIC. We look forward to working with both BC Partners and GIC in exploring the exciting opportunities in front of us," Matthews stated.