BC Partners has sold its majority stake in financial intelligence business Acuris to ION Investment Group.
The deal was valued at $1.35bn, people familiar with the matter told AltAssets. ION will acquire a controlling stake from BC Partners and Singapore’s sovereign wealth fund GIC.
Under the deal BC and Acuris’ management team are set to reinvest in the business, and will retain a minority ownership stake.
Acuris provides financial insights and analytics to investors as well as advisory and corporate clients.
The business provides its services across six financial areas including transactions, equities, compliance, infrastructure and research. The company has almost 1,500 employees spread across 66 locations globally.
BC partner Nikos Stathopoulos said, “When we invested in Acuris in 2014, we saw an opportunity to accelerate its growth and to build a strong franchise, in partnership with Hamilton and the management team.
“We invested significantly in Acuris’ technology platform, expanded geographically, launched new products, content and data sets and executed nine accretive acquisitions, which have allowed us to create new product divisions.
“We’re proud of the way Acuris has developed over the last five years into a leader in global financial intelligence, data and analytics, and see significant potential for further value creation.
“ION’s complementary capabilities, technologies and customers make it an ideal partner to support the next stage of Acuris’ growth.”
Private equity giant Blackstone is currently considering the acquisition of a minority stake in BC Partners, according to reports.
BC closed its tenth flagship private equity fund on €7bn at the beginning of this year, pulling in about €300m more than its predecessor vehicle.
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