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GMT Communications Partners seals $94m Karnov Group refinancing

3 Mar 2014

Danish Denmark flagEuropean private equity investor GMT Communications Partners has refinanced business intelligence portfolio company Karnov Group with DKK510m ($94m).

GMT picked up Karnov from Thomson Reuters in 2011, and has attempted to transform the company from a 20th century publisher to a modern IT business.

The company, which employs around 160 people across offices in Copenhagen and Stockholm, is projected to report revenues in excess of DKK300m for 2014, mainly generated by its online platform.

GMT partner Stefan Franssen said, “When we acquired Karnov, it was already well positioned in attractive niche markets of the professional information industry, but also had great potential to use technologies to radically improve its offering to customers.

“Since then we have worked with management to deliver an ambitious strategic growth plan and are seeing this translate into really strong performance.

“This refinancing gives the business the platform it now needs to continue this exciting growth story.”

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