LONDON – 30 June 2017 – Funds advised by BC Partners (“BC Partners”), a leading private equity firm, have reached an agreement to sell a c.30% stake in the Mergermarket Group (“Mergermarket” or “the company”) to GIC, Singapore’s sovereign wealth fund. The transaction is subject to standard regulatory approvals.
Founded in London in 2000, Mergermarket is a global financial intelligence company, providing corporate financial news and analysis through a wide variety of different products. It offers proprietary, forward-looking and actionable intelligence that cannot be accessed elsewhere, to a wide range of investor, advisory and corporate clients. Today, the company has over 1,200 staff in 65 different locations worldwide.
Mergermarket was acquired by BC Partners via a carve-out from Pearson plc in 2014 for £382 million and since that time has delivered impressive double-digit top-line growth each year, with EBITDA approximately doubling over the period. BC Partners has worked closely with the Mergermarket management team on a number of key initiatives to accelerate this growth, including transforming its IT platform, enhancing the data offering, and supporting seven strategic add-on acquisitions that have expanded the business into new product areas.
Following the transaction, BC Partners will continue to hold more than a 60% stake in Mergermarket and will work closely alongside GIC as the company embarks on its next chapter of growth.
Nikos Stathopoulos, Managing Partner at BC Partners, commented:
“BC Partners 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. 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.”
Choo Yong Cheen, CIO of Private Equity at GIC, commented:
“Mergermarket is a clear leader in its sector 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.”
Hamilton Matthews, CEO at the Mergermarket Group, commented:
“We are delighted to welcome GIC as our new partner alongside BC Partners. 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.”