Alternative investment firm Investcorp has sold its portfolio company TDX Group to Equifax for approximately $327 million. Canaccord Genuity advised Investcorp on the transaction. Based in the UK, TDX is a debt management platform.
NEW YORK, NY, January 16, 2014 – Investcorp, a global provider and manager of alternative investment products, today announced that, together with the founders of the TDX Group (TDX), it has agreed the sale of TDX to Equifax Inc., (NYSE:EFX), a global information solutions provider, for £200 million (approximately US$327 million). TDX is the United Kingdom’s largest debt placement services and debt management platform company.
Through its technology fund, Investcorp Technology Partners III, Investcorp acquired a substantial minority stake in TDX in 2008, becoming the largest and only institutional shareholder alongside TDX’s three founders.
Founded in 2004 and headquartered in Nottingham, UK, TDX employs approximately 345 people globally. TDX provides businesses with technology, data and advisory solutions to improve debt liquidation and the fair treatment of consumers in financial arrears.
Gilbert Kamieniecky, Principal at Investcorp, said: “With our support, TDX has been able to realise its potential and has evolved from being a UK-focused operation to one with a growing international footprint. The fact that the company has attracted the interest of a strong trade buyer in Equifax is testament to the quality of solutions and services TDX offers to its clients in recovering delinquent debt.”
The transaction is Investcorp’s third successful exit of its technology portfolio in twelve months following its agreement to sell the Skrill Group, one of Europe’s largest online payment systems, to CVC Capital and the flotation of Fleetmatics, the Irish-based leading global provider of fleet management solutions for commercial fleet vehicles, on the New York Stock Exchange.
Investcorp was advised on the transaction by Canaccord Genuity (financial advisor) and King & Wood Mallesons (legal).
Investcorp is a leading provider and manager of alternative investment products. The Investcorp Group has offices in New York, London, Bahrain, Saudi Arabia and Abu Dhabi. Investcorp has three business areas: corporate investment in the US, Europe and the Gulf, real estate investment in the US and global hedge funds. As at June 30, 2013, Investcorp had $10.5 billion in total assets under management. Further information is available at www.investcorp.com.