Blackstone’s and Goldman Sachs Merchant Banking Division’s buy of Ipreo has closed. The deal was valued at $975 million. KKR was the seller. Ipreo provides market intelligence, data, and technology solutions.
NEW YORK, Aug. 6, 2014 /PRNewswire/ — Ipreo Holdings LLC (“Ipreo”), a leading global provider of market intelligence and workflow solutions to capital markets and corporate professionals, announced the completion of its acquisition by private equity funds managed by Blackstone (NYSE: BX) and by the Goldman Sachs Merchant Banking Division (“Goldman Sachs”) (together, the “Sponsors”). The Sponsors have acquired the business from affiliates of Kohlberg Kravis Roberts & Co. L.P. (“KKR”). Terms of the transaction were not disclosed.
“Ipreo is an extraordinary company with tremendous potential for growth,” said Martin Brand, Senior Managing Director of Blackstone. “We are pleased to partner alongside management and Goldman Sachs to position Ipreo for continued innovation and success.”
“Ipreo has a long track-record of impressive performance across all the markets it serves. We are excited to help the company achieve new levels of market leadership, alongside our new partners,” said Sumit Rajpal, Global Head of Financial Services Investing for the Goldman Sachs Merchant Banking Division.
Ipreo is a leading global provider of market intelligence, new issuance software, and investor communication tools to investment banks and public companies. It is the only provider of capital markets solutions across the equity, fixed income, municipal, and syndicated loan markets. Ipreo’s extensive suite of corporate investor relations services provides corporate clients with unparalleled cross-asset class shareholder intelligence and analytics. Ipreo is especially known for its Bigdough database, widely recognized as the leading source for institutional contact data and investor profiles, relied upon by capital markets and corporate professionals alike. Ipreo clients include the world’s leading investment banks and hundreds of corporations listed on all the major exchanges around the globe.
“We are very excited to partner with Blackstone and Goldman Sachs in our next phase of development,” said Scott Ganeles, Chief Executive Officer of Ipreo. “The weeks of working together towards closing have only strengthened our view that both firms bring the experience, relationships, and market expertise to support not only our growth as a company but also our ability to bring new and enhanced services to our clients.”
Ipreo is a global leader in providing market intelligence, data, and technology solutions to all participants in the global capital markets, including sell-side banks, publicly traded companies, and buy-side institutions. From new issuance through ongoing investor management, our unique solutions drive connectivity and efficiency throughout all stages of the capital-raising process. Ipreo has more than 800 employees supporting clients in every major financial center around the world. For more information, please go to www.ipreo.com.
Blackstone is one of the world’s leading investment and advisory firms. We seek to create positive economic impact and long-term value for our investors, the companies we invest in, the companies we advise and the broader global economy. We do this through the commitment of our extraordinary people and flexible capital. Our asset management businesses include investment vehicles focused on private equity, real estate, hedge fund solutions, non-investment grade credit, secondary funds, and multi asset class exposures falling outside of other funds’ mandates. Blackstone also provides various financial advisory services, including financial and strategic advisory, restructuring and reorganization advisory and fund placement services. Further information is available at www.blackstone.com. Follow Blackstone on Twitter @Blackstone.
About the Goldman Sachs Merchant Banking Division
The Merchant Banking Division of Goldman Sachs is one of the leading private equity investors in the world, having invested and committed approximately $45 billion of equity capital in over 650 companies globally across its corporate equity investing business. The Goldman Sachs Group, Inc. is a leading global investment banking, securities and investment management firm that provides a wide range of financial services to a substantial and diversified client base that includes corporations, financial institutions, governments and high-net-worth individuals. Founded in 1869, the firm is headquartered in New York and maintains offices in all major financial centers around the world. For more information on Goldman Sachs, please visit http://www.gs.com.