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Thomas H. Lee values Bazaarvoice at more than $1.5bn

The transaction provides a partial exit for Marlin Equity, which took Bazaarvoice private in February 2018 for approximately $521m.

Thomas H. Lee’s investment in Bazaarvoice Network values the advertising technology provider at over $1.5 billion, sources familiar with the deal’s terms told PE Hub.

The private equity firm announced its acquisition of Bazaarvoice on Monday, providing a partial exit for existing investor Marlin Equity Partners. Marlin will remain a material shareholder of the company, according to the announcement.

Bazaarvoice, based in Austin, Texas, with offices in North America, Europe, Asia, and Australia, provides software that allows brands and retailers to collect and display several types of user-generated content on their e-commerce websites.

Its clients include brands like Walmart, DSW, Samsung, Canon, Unilever, Verizon, Sephora, AT&T, Petco, Target, LG, Nestle, Macy’s, L’Oréal and YETI, among others.

PE Hub wrote in March that the sale process for Bazaarvoice had entered its second round. Sources at the time said the company generates $320 million of revenue and around $100 million of EBITDA.

Scoring a more than $1.5 billion valuation with THL’s investment, sources said, the deal implies an EBITDA multiple of at least 15x.

The sale of Bazaarvoice looks set to produce a significant return for Marlin Equity, which took Bazaarvoice private in February 2018 for approximately $521 million.

UBS provided financial advice on the company’s sale.

Marlin Equity, UBS, Bazaarvoice, and Thomas H. Lee did not return PE Hub’s requests for comment.