GoCompare.com acquires energy switching specialist Energylinx for £10M

go-compare-logo-newGoCompare.com Group plc has acquired Energylinx for £10m in cash.

Energylinx is an energy comparison and switching specialist and has commercial relationships 69 domestic energy and 40 business energy suppliers. Customers include Which? and Citizens Advice Bureau. The company operates a white-label proposition, with around 200 active affiliates.

Matthew Crummack, CEO of GoCompare, said: “We are pleased to announce this acquisition, which marks yet another significant milestone for the Group as we continue to build services that work for both our customers and partners. Energylinx has an excellent reputation in the industry among energy suppliers and those who use its white-label services, and we will leverage our strong brand, tech and product capabilities to expand its reach and impact to help save even more people time and money.

Energylinx is headquartered in Alloa, Scotland and employs a team of 20 staff. Following completion, Ken Geddes, founder and CEO will join the Group.

UK, Wales, Newport & UK, Scotland, Alloa

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Bridgepoint Development Capital to acquire Private Equity International

BridgepointBridgepoint Development Capital is to acquire a majority stake in PEI Media – the global provider of insight, market-data and business conferences for professionals active in alternative asset class investment. Details of the transaction were not disclosed. The business is being acquired from its founders, management and minority shareholder, LDC.

PEI Media focuses on private investment markets in real estate, infrastructure, private equity, and private debt – including specialist sector-specific activities within those private asset markets. The group has developed deep connections with international sources of alternative investment capital since its inception in 2001. Clients served include public sector and company pension plans, insurance groups, endowments and family offices – as well as leading private-asset fund managers who raise and deploy capital raise from institutional investors.

PEI was formed following a management buyout from Euromoney Institutional Investor plc. It has grown a diversified portfolio of alternative asset-focused publications, databases and branded events. Headquartered in London with offices in Hong Kong and New York, the company currently employs around 180 people and has clients based in over 80 countries. The company’s publications include PERE, Infrastructure Investor, Private Debt Investor, Private Equity International, Real Estate Capital, Private Funds Management, Agri Investor and Secondaries Investor, amongst others.

BDC Partner Robin Lawson said, “PEI is recognised for its differentiated insight into the worlds of multiple alternative asset classes. As investors look for higher yields, continued inflows into these classes means that there is growing demand for the information, analysis and event-networking opportunities of providers like PEI. Today’s investment by BDC will support the continued international expansion of the business as well as further development of its technology platform and digital product set. Our aim in working with PEI’s management will be to ensure that it remains best-placed to scale its digital offering in a growing market and deliver progressive evolution of its specialist-brand in line with advancing client needs. In this way, we expect that increasingly sophisticated customers, both existing and new, will remain able to access the information and market connections they increasingly need to be successful in their global alternative investment strategies.”

UK, London

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AgriBriefing rumoured to be up for sale

AgriBriefingBetaville is reporting that agribusiness media, price reporting and intelligence company AgriBriefing is about to be sold by its private equity owners, Lyceum Capital.

AgriBriefing creates and sells prices for eggs, red meat and animal feed and publishes the Farmers Guardian. The company also runs Britain’s largest farm machinery and equipment show – Lamma.

Reports suggest that Lyceum is unlikely to begin a sale process until later this year or early 2019 as it has just appointed Raymond James to carry out a strategic review.

UK, London

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Hg makes strategic investment in Financial Express

Hg Capital plcHg, the manager of HgCapital Trust plc, is to make a significant investment in Financial Express, a leading data, analytics and software vendor focussed on the UK and Australian retail investment funds markets. The terms of the transaction were not disclosed. HgCapital Trust plc will invest approximately £7.5 million in FE, with other institutional clients of Hg investing alongside the Company through the Mercury 2 Fund.

Based on the 30 April 2018 NAV, the company’s liquid resources available for future deployment, including all announced transactions, are estimated to be £145 million (20% of the 30 April 2018 pro forma NAV of £712.8 million). In addition, the company has access to an £80 million standby facility, which is currently undrawn. The investment will reduce the company’s outstanding commitments to invest in Hg transactions over the next four to five years to approximately £587 million.

Founded by Michael Holland and Craig Wilson, FE is a leading provider of investment data, research and software to the financial services industry in the UK and operates a proprietary database of complete retail funds data with global coverage and history, built up over 20 years. Trusted by investors, advisers, asset managers and platforms who use FE data, software and investment advice every day, FE is a leading player in supporting the UK fund industry.

The investment will be made from the Mercury 2 Fund. FE has a number of business characteristics that Hg looks for, including a strong position in the wealth / asset management software and data sector, a well-recognised brand, mission-critical products, and a strong management team led by Neil Bradford.

The investment comes on the back of significant expansion of FE’s global operations and product offering over the past few years, and another year of record growth for the company in 2017.

Sebastien Briens, Partner at Hg, said: ‘We have been following FE for a number of years, and have been impressed by the strength and depth of its data, products, team and vision. We are very pleased to partner with Michael, Craig and Neil in the next stage of growth for the business.’

Neil Bradford, CEO at FE, said: ‘Hg’s track record and experience in our sector means they are the perfect partner to continue FE’s growth strategy and international expansion ambitions. We look forward to working with the Hg team.’

Michael Holland, co founder of FE, said: ‘Data is at the foundation of everything we do and Hg has a deep understanding of the fund data space. I am confident that this partnership will hugely benefit our clients.’

UK, London

Phoenix invests in Capital Economics

Phoenix Equity PartnersPrivate equity firm Phoenix Equity Partners has acquired a controlling stake in independent research company Capital Economics. Phoenix’s investment, which values the business at circa £95m, will be made alongside the existing management team and shareholders. Roger Bootle will retain a significant stake in the business.

Capital Economics is one of the leading independent macro-economic research companies in the world. Their team of more than 60 experienced economists provide award-winning macro-economic, financial markets and sectoral analysis, forecasts and consultancy from offices in London, New York, Toronto, Singapore and Sydney. The business provides research subscriptions, data and events to approximately 1,500 global institutions.

Capital Economics’ existing backer LDC, the private equity arm of Lloyds Banking Group, will exit its minority stake. Since their investment in October 2014, the business has grown revenues by 30% to over £22.5m in its latest financial year, launched several new services and opened new offices in New York and Sydney. It has expanded the team by 30% to over 140 employees across its five locations.

The investment by Phoenix will allow Capital Economics to continue to accelerate its growth. Phoenix’s support will enable investments in new services and in technology to enhance and personalise client delivery. A number of potential acquisitions have also been identified.

Chris Neale, Partner at Phoenix, said: ‘Capital Economics is an exceptional business with outstanding economists and staff, and an unrivalled reputation for macro-economic insight. It has grown every year since inception, building up a global base of loyal repeat clients. Demand for high quality, independent research continues to increase and we are excited about the future potential of the business. We look forward to working with Bob and the team to help accelerate growth over the coming years.’

UK, London

Silver Lake Partners and Battery Ventures to acquire EDR from DMGT for $205M

Silver LakeSilver Lake and Battery Ventures have agreed to acquire EDR, a leading provider of real estate data and software-as-a-service, from the Daily Mail and General Trust plc for $205m. The investors areBattery Ventures global, growth-oriented firms focused on partnerships with market-leading technology companies. The transaction is expected to close in the coming weeks and is subject to
customary closing conditions.

EDR is a leader in property due-diligence and risk management technology and information. The company’s solutions enable clients — including environmental consultants and engineers, appraisers, and lenders — to manage real estate due diligence processes efficiently and effectively.

Joe Osnoss, Managing Director at Silver Lake, said, ”The real estate sector is continuing to evolve with the introduction of new technologies. EDR has a rich history of thought leadership in this area, and we plan to invest behind the company’s developing product roadmap to serve its important client ecosystem.”

Battery Ventures General Partner Scott Tobin added, ”We look forward to working closely with Chris Aronson and EDR’s management team. We believe that our investment will enable EDR to accelerate growth — including in the state-of-the-art Collateral360 SaaS platform — and extend its reputation as a leader in real estate data and software with a developing range of products and services.”

UK, London & USA, Shelton, CT

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Keshet acquires majority stake in Greenbird Media

Keshet InternationalKeshet International, the global production and distribution arm of Israeli media giant Keshet, has acquired a majority stake in UK production company incubator, investor and biz accelerator Greenbird Media. The deal sees Keshet up its share of Greenbird and take over BBC Worldwide’s 30% stake in the company. Further details of the transaction were not disclosed.

Greenbird, a venture from Shine TV executive Jamie Munro and Stuart Mullin from Argonon, was founded in 2012 and provides independent producers with access to innovative funding models and licensing deals to support their creative productions.

KI, known for “Homeland,” “The A Word” and “Rising Star,” will become distribution partner for Greenbird Media’s production companies and boost its roster with more entertainment and factual content, while Greenbird will continue to guide its independent producers in terms of funding and licensing deals for creative productions.

Alon Shtruzman, CEO of Keshet International, said, “Greenbird Media, with its entrepreneurial and creative culture, is the perfect match for us. We share similar philosophies and values, and by combining KI’s global footprint with Greenbird Media’s stellar team, I see limitless possibilities and accelerated growth.”

Israel, Jerusalem & UK, London