Fitch Group said May 31 that it agreed to buy Fulcrum Financial Data. Financial terms weren’t announced. Leeds Equity Partners is the seller. Fulcrum Financial, of New York and London, provides leveraged finance and distressed debt analysis, as well as news and data. Brands include Covenant Review, LevFin Insights, CapitalStructure and PacerMonitor. Fitch is a unit of Hearst. DCS Advisory provided financial advice to Fitch Group.
Fitch Group to Acquire Fulcrum Financial Data
Fitch Group, a unit of Hearst, today announced it has agreed to acquire Fulcrum Financial Data, a leading provider of leveraged finance and distressed debt analysis, news and data, from Leeds Equity Partners. Fulcrum Financial Data includes some of the market’s most influential financial news brands including Covenant Review, LevFin Insights, CapitalStructure and PacerMonitor. Financial terms of the deal were not disclosed, and closing is subject to regulatory approval.
Fulcrum Financial Data will become part of the group’s Fitch Solutions division. Fitch Solutions is a leading provider of credit and macro intelligence, and the primary distributor of Fitch Ratings content. Fulcrum CEO Steve Miller will continue to lead the business, reporting to Dr. Ranjit Tinaikar, president, Fitch Solutions.
“Fulcrum Financial Data has distinguished itself by offering deep reporting, insight and legal analysis that go beyond what others offer, helping asset managers, banks, private equity firms and other market participants make better decisions,” said Tinaikar. “We are delighted to welcome this talented team into Fitch Solutions. Fulcrum’s pre-eminence in leveraged finance aligns with our strategy to strengthen our offering to debt market professionals through strong organic growth and strategic acquisitions.”
“Fulcrum’s leveraged and distressed debt expertise is a strong complement to our Fitch Ratings business, where we already have great presence and momentum in these markets,” said Paul Taylor, President and CEO of Fitch Group. “Adding such influential brands as Covenant Review and LevFin Insights reinforces Fitch’s role as a leading source of information, insights and tools for leveraged finance market participants.”
Miller commented: “Fitch Group is a truly global firm with a broad reach and a deep commitment to producing objective and high-quality analysis. Fulcrum has already made significant investments in our portfolio of leading brands, and as part of Fitch we look forward to further enhancing the value of information we provide to the leveraged and distressed debt markets.”
DCS Advisory served as advisor to Fitch Group on this transaction.
About Fulcrum Financial Data Fulcrum Financial Data offers unique insights, commentary, and data that give subscribers an edge in playing the corporate bond, leveraged loan and special situations markets. Fulcrum Financial Data is led by a team of accomplished financial information entrepreneurs, all of whom are recognized subject matter experts in their respective areas.
Covenant Review is the trusted source for the interpretation of corporate bond indentures and leveraged loan credit agreements.
LevFin Insights provides comprehensive real-time news, commentary and data for leveraged loan and high-yield bond market players.
CapitalStructure provides insightful first-to-market news and analysis of the sub-investment grade universe, with a focus on special situations.
PacerMonitor is a unified, modern and full-featured platform for researching and tracking federal bankruptcy, district and appellate court cases.
About Fitch Solutions Fitch Solutions is a world-leading provider of credit intelligence and the primary distributor of Fitch Ratings content. Today, 90 percent of the world’s leading financial institutions, multinational companies, governmental bodies and consulting firms based in more than 118 countries depend on Fitch content to inform their business decisions. To learn more visit www.fitchsolutions.com.
About Fitch Group Fitch Group is a global leader in financial information, providing critical insights that inform better decision-making in financial markets. With operations in more than 30 countries, Fitch Group is comprised of: Fitch Ratings, a global leader in credit ratings and research; Fitch Solutions, an authority in credit and macro intelligence providing fixed-income products and services to the global financial community; and Fitch Learning, a preeminent source of training and professional development. Fitch Group is owned by Hearst, a leader in diversified media, information and services.