Investcorp has failed to find a buyer for SourceMedia and the auction is busted, four sources tell peHUB. The process was expected to draw bids of 5x to 6x EBITDA but proposals came in at less than 5x, one PE executive says.
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Investcorp, the multinational private equity firm, sought to sell Accuity Inc. separately from parent company SourceMedia, but did not sell the asset, according to sources familiar with the auction process. Accuity sells payment solutions services, risk management optimization tools and marketing products to its customers. SourceMedia is a financial services reporting company, with little synergies to Accuity. [...]