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Nielsen announces sale of Global Connect business to Advent International for $2.7 billion

Advent International

Advent, in partnership with former TransUnion CEO Jim Peck, will accelerate Nielsen Global Connect’s transformation and support its continued innovation in consumer and market measurement

Nielsen to hold a conference call to discuss today’s announcements as well as its third quarter 2020 financial results at 8:00 a.m. U.S. Eastern Time (ET) on Monday, November 2nd, 2020

NEW YORK, and BOSTON, November 1, 2020 – Nielsen Holdings plc (“Nielsen”) (NYSE: NLSN) announced today that it has signed a definitive agreement under which affiliates of Advent International (“Advent”), one of the largest and most experienced global private equity investors, in partnership with James “Jim” Peck, former Chief Executive Officer of TransUnion, will acquire the Nielsen Global Connect business for $2.7 billion (subject to working capital, cash, debt-like items and other customary adjustments). Nielsen will also receive warrants in the new company exercisable in certain circumstances. Upon completion of the transaction, Nielsen Global Connect will be a private company with the flexibility to continue investing in the development and deployment of leading-edge measurement products and solutions. The transaction was unanimously approved by Nielsen’s Board of Directors.

“This is a win for both Nielsen Global Connect and for Nielsen (RemainCo), as well as for our shareholders,” said David Kenny, Chief Executive Officer, Nielsen. “The sale of this business to Advent will deliver substantial value sooner than was anticipated through the planned spin-off and creates certainty for all stakeholders. The proceeds from the sale will allow Nielsen to significantly reduce debt, which will provide greater financial flexibility to execute our growth strategy and expand our role in the global media marketplace. At the same time, we are excited about this opportunity for Nielsen Global Connect and believe that moving forward as a private company will better position the business to accelerate its transformation and strengthen its market-leading position. With the support of Advent’s resources and expertise, we believe the new company will create and define the next century of consumer and market measurement. We thank the entire Nielsen Global Connect team for their invaluable partnership and look forward to continuing a strong working relationship with them in the future.”

Kenny added, “All of the terrific work done by so many to pursue a spin-off will position both businesses to thrive as standalone companies and will allow us to execute a smooth transaction. We are grateful for all of this dedicated work.”

“Nielsen Global Connect is the gold standard in retail measurement, with exceptional insights and unrivaled scale and coverage of the global CPG and retail markets,” said Peck. “As customers face a rapidly evolving marketplace, we recognize that they have high expectations for Nielsen Global Connect to help them meet these new demands and to build on its existing core platform and other retail measurement capabilities. We intend to work with David Rawlinson and the talented management team to accelerate the delivery of new capabilities and to continue the transformation underway to build an innovative, high-performing culture acutely focused on delivering value to customers around the world.”

“Advent is thrilled to partner with Jim in driving this next phase of growth for Nielsen Global Connect,” said Chris Egan, Managing Partner at Advent. “Advent has invested in data and information services companies for nearly three decades, and earlier this year we teamed up with Jim to identify a compelling business in the sector where we can apply our combined experience and resources to create value. We see tremendous potential to build on Global Connect’s cutting-edge platform, drawing on our global footprint and operational strength to further scale the business and advance its leadership across established and emerging markets.”

David Rawlinson will remain CEO of Nielsen Global Connect through the close of the transaction and is expected to be part of the leadership team for the go-forward company. Upon close, Peck will be involved in the day-to-day strategic and operational activities of the company, which will be headquartered in Chicago, IL. In early 2021, the Global Connect business will be renamed NielsenIQ.

Nielsen will grant Nielsen Global Connect a license to brand its products and services with the “Nielsen” name and other Nielsen trademarks for 20 years following closing. Additionally, Nielsen and Advent will enter into agreements pursuant to which, among other things, Nielsen and Advent will provide certain transitional services to each other for periods of up to 24 months following closing, grant each other reciprocal licenses for certain data and corresponding services relating to that data for periods of up to five years following closing and grant each other licenses to use certain patents.

Background on Nielsen Global Connect and Transaction Details
Nielsen Global Connect provides consumer packaged goods manufacturers and retailers with actionable information and a complete picture of the complex and changing marketplace that brands need to innovate and grow their business. The company offers data and builds tools that use predictive models to turn market observations into business decisions and winning solutions. These data and insights provide the essential foundation that makes markets possible in the rapidly evolving world of commerce.

Nielsen plans to use net proceeds of the transaction primarily to reduce debt and for general corporate purposes. On a pro-forma basis for the transaction, Nielsen expects year-end 2020 net leverage to be under 4X. The transaction is subject to approval by Nielsen shareholders, regulatory approvals, consultation with the works council and other customary closing conditions; it is expected to close in the second quarter of 2021.

Advisors
J.P. Morgan Securities LLC and Guggenheim Securities, LLC are acting as financial advisors to Nielsen, and Wachtell, Lipton, Rosen & Katz, Clifford Chance LLP, DLA Piper, and Baker McKenzie are serving as legal advisors to Nielsen. Ropes & Gray LLP and Weil, Gotshal & Manges LLP are serving as legal counsel to Advent and BofA Securities is serving as lead financial advisor, with Deutsche Bank Securities Inc., RBC Capital Markets and UBS Investment Bank also advising. Financing for the transaction is being arranged and provided by Bank of America, UBS Investment Bank, Barclays, Deutsche Bank AG New York, HSBC, RBC Capital Markets, MUFG and Wells Fargo.

Conference Call and Webcast
Nielsen will hold a conference call to discuss today’s announcements as well as its third quarter 2020 financial results at 8:00 a.m. U.S. Eastern Time (ET) on Monday, November 2, 2020. This conference call will replace the previously announced conference call scheduled for Thursday, November 5, 2020. Interested parties are encouraged to listen to the webcast as wait times for the call may be longer than normal. The webcast can be found on Nielsen’s Investor Relations website at http://nielsen.com/investors. Within the United States, listeners can also access the call by dialing 1+833-502-0473. Callers outside the U.S. can dial 1+236-714-2183. Please note that the conference ID is required to access this call; the conference ID is 2671835.

A replay of the event will be available on Nielsen’s Investor Relations website, http://nielsen.com/investors, from 11:00 a.m. Eastern Time, November 2, 2020 until 11:59 p.m. Eastern Time, November 9, 2020. The replay can be accessed from within the United States by dialing +1-800-585-8367. Other callers can access the replay at +1-416-621-4642. The replay pass code is 2671835.

About Nielsen

Nielsen Holdings plc (NYSE: NLSN) is a global measurement and data analytics company that provides the most complete and trusted view available of consumers and markets worldwide. Nielsen is divided into two business units. Nielsen Global Media provides media and advertising industries with unbiased and reliable metrics that create a shared understanding of the industry required for markets to function. Nielsen Global Connect provides consumer packaged goods manufacturers and retailers with accurate, actionable information and insights and a complete picture of the complex and changing marketplace that companies need to innovate and grow. Our approach marries proprietary Nielsen data with other data sources to help clients around the world understand what’s happening now, what’s happening next, and how to best act on this knowledge. An S&P 500 company, Nielsen has operations in over 90 countries, covering more than 90% of the world’s population. For more information, visit: www.nielsen.com

From time to time, Nielsen may use its website and social media outlets as channels of distribution of material company information. Financial and other material information regarding the company is routinely posted and accessible on our website at www. nielsen.com/investors and our Twitter account at twitter.com/Nielsen

About Advent International

Founded in 1984, Advent International is one of the largest and most experienced global private equity investors. The firm has invested in over 350 private equity transactions in 41 countries, and as of June 30, 2020, had $58.4 billion in assets under management. With 15 offices in 12 countries, Advent has established a globally integrated team of over 200 investment professionals across North America, Europe, Latin America and Asia. The firm focuses on investments in five core sectors, including business and financial services; health care; industrial; retail, consumer and leisure; and technology. After 35 years dedicated to international investing, Advent remains committed to partnering with management teams to deliver sustained revenue and earnings growth for its portfolio companies.

For more information, visit: www.adventinternational.com or www.linkedin.com/company/advent-international

Forward-Looking Statements
This communication includes information that could constitute forward-looking statements made pursuant to the safe harbor provision of the Private Securities Litigation Reform Act of 1995. These statements include those set forth above relating to the proposed sale by Nielsen of its Global Connect business to an affiliate of Advent International Corporation (the “proposed transaction”), as well as those that may be identified by words such as “will,” “intend,” “expect,” “anticipate,” “should,” “could” and similar expressions. These statements are subject to risks and uncertainties, and actual results and events could differ materially from what presently is expected. Factors leading thereto may include, without limitation, the risks related to the COVID-19 pandemic on the global economy and financial markets, the uncertainties relating to the impact of the COVID-19 pandemic on Nielsen’s business, the timing, receipt and terms and conditions of any required governmental or regulatory approvals of the proposed transaction that could reduce the anticipated benefits of or cause the parties to abandon the proposed transaction, the occurrence of any event, change or other circumstances that could give rise to the termination of the stock purchase agreement entered into pursuant to the proposed transaction (the “Agreement”), the possibility that Nielsen shareholders may not approve the entry into the Agreement, the risk that the parties to the Agreement may not be able to satisfy the conditions to the proposed transaction in a timely manner or at all, risks related to the disruption of management time from ongoing business operations due to the proposed transaction, the risk that any announcements relating to the proposed transaction could have adverse effects on the market price of Nielsen’s common stock, the risk of any unexpected costs or expenses resulting from the proposed transaction, the risk of any litigation relating to the proposed transaction, the risk that the proposed transaction and its announcement could have an adverse effect on the ability of Nielsen to retain customers and retain and hire key personnel and maintain relationships with customers, suppliers, employees and other business relationships and on its operating results and business generally, the risk that the pending proposed transaction could distract management of Nielsen, conditions in the markets Nielsen is engaged in, behavior of customers, suppliers and competitors, technological developments, as well as legal and regulatory rules affecting Nielsen’s business and other specific risk factors that are outlined in our disclosure filings and materials, which you can find on http://www.nielsen.com/investors, such as our 10-K, 10-Q and 8-K reports that have been filed with the Securities and Exchange Commission. Please consult these documents for a more complete understanding of these risks and uncertainties. This list of factors is not intended to be exhaustive. Such forward-looking statements speak only as of the date of this communication, and we assume no obligation to update any written or oral forward-looking statement made by us or on our behalf as a result of new information, future events or other factors, except as required by law.

Additional Information and Where to Find It
This communication relates to the proposed transaction involving Nielsen. In connection with the proposed transaction, Nielsen will file relevant materials with the U.S. Securities and Exchange Commission (the “SEC”), including Nielsen’s proxy statement on Schedule 14A (the “Proxy Statement”). This communication is not a substitute for the Proxy Statement or for any other document that Nielsen may file with the SEC and send to its shareholders in connection with the proposed transaction. The transaction will be submitted to Nielsen’s shareholders for their consideration. Before making any voting decision, Nielsen’s shareholders are urged to read all relevant documents filed or to be filed with the SEC, including the Proxy Statement, as well as any amendments or supplements to those documents, when they become available because they will contain important information about the proposed transaction.
Nielsen’s shareholders will be able to obtain a free copy of the proxy statement, as well as other filings containing information about Nielsen, without charge, at the SEC’s website (www.sec.gov). Copies of the proxy statement and the filings with the SEC that will be incorporated by reference therein can also be obtained, without charge, by directing a request to Nielsen Holdings plc, 85 Broad Street, New York, NY 10004, Attention: Corporate Secretary; telephone (646) 654-5000, or from Nielsen’s website, www.nielsen.com.

Participants in the Solicitation
Nielsen and certain of its directors, executive officers and employees may be deemed to be participants in the solicitation of proxies in respect of the transaction. Information regarding Nielsen’s directors and executive officers is available in Nielsen’s definitive proxy statement for its 2020 annual meeting, which was filed with the SEC on April 1, 2020, and Nielsen’s Current Report on Form 8-K, which was filed with the SEC on April 30, 2020. Other information regarding the participants in the proxy solicitation and a description of their direct and indirect interests, by security holdings or otherwise, will be contained in the Proxy Statement and other relevant materials to be filed with the SEC in connection with the proposed transaction when they become available. Free copies of this document and such other materials may be obtained as described in the preceding paragraph.

Media contacts

Nielsen
Investor Relations: Sara Gubins, +1 646 654 8153, sara.gubins@nielsen.com
Media Relations: Fernanda Paredes, +1 917 291 1196, fernanda.paredes@nielsen.com

Advent International
Kerry Golds or Anna Epstein
Finsbury
Tel: +1 646 805 2000
Adventinternational-US@finsbury.com

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Ratos divests Bisnode to Dun & Bradstreet

Ratos

The transaction forms part of the development of Ratos into a group of companies with a focus on profitable growth.

  • Ratos is selling the data and analytics company Bisnode to Dun & Bradstreet for a purchase price based on an approximate enterprise value of SEK 7,200m, representing an EV/EBITA multiple of 13,8x.
  • The sale of Ratos’s 70% shareholding corresponds to an approximate equity value of SEK 3,900m, representing a Group capital gain of about approximately SEK 2,000m. In addition, Ratos will receive a dividend from Bisnode during the fourth quarter 2020 amounting to SEK 175m.
  • 25% of the equity value comprises of shares in Dun & Bradstreet, listed on the New York Stock Exchange. Ratos’s CEO, Jonas Wiström, will join the Dun & Bradstreet International Strategic Advisory Board.
  • Bisnode has doubled its profitability over the past four years. The transaction enables increased growth through Dun & Bradstreet’s international reach and expanded global customer base.
  • The transaction is an additional step in the development of Ratos and will create the financial conditions for accelerating profitable growth and acquisitions.

Ratos AB (“Ratos”) has signed an agreement to sell its entire 70% holding in Bisnode AB (“Bisnode”), excluding the business operations in Belgium, to Bisnode’s partner Dun & Bradstreet for an approximate enterprise value of SEK 7,200m, corresponding to an EV/EBITA multiple of 13,8x and an approximate equity value of SEK 3,900m. In addition, Ratos will receive a dividend from Bisnode during the fourth quarter 2020 amounting to SEK 175m. 75% of the equity value comprises a cash consideration, and 25% of shares in Dun & Bradstreet Holdings, Inc., corresponding to approximately 1% of shares outstanding. Bonnier is also selling its 30% stake in Bisnode to Dun & Bradstreet. The transaction is subject to customary regulatory approval and is expected to close by early 2021.

“This is a good deal for Ratos, which also means that we release capital and can increase the pace of our business plan with the aim of investing in organic growth and margin growth in the existing portfolio as well as add-on and potential new acquisitions. The sale is an important step in the transformation of Ratos into a company group with a focus on profitable growth”, says Jonas Wiström, President and CEO of Ratos.

Bisnode has undergone a successful development process over the past four years with a focus on an improved customer offering, stability and profitability. During that time, the operating margin has doubled from 7% to 14% for a rolling 12-month period. Future growth aimed at reaching a leading position will require Bisnode’s participation in the ongoing consolidation of an increasingly global data and analytics market, benefitting from Dun & Bradstreet’s global scale, expertise and market leading solutions.

“Ratos’s transformation into a focused company group is based on the premise that we will own companies that are, or can become, market leaders. In Bisnode’s case, we do not have the possibility to invest in the creation of a market-leading position in the market for data and analysis on our own. We would prefer to participate in the consolidation together with a global leading partner that can realise major synergies with Bisnode, which we are enabling via this transaction. It also feels satisfying to have found a good solution considering the interdependence that Bisnode has had to Dun & Bradstreet since 2003 as a reseller”, says Jonas Wiström.

Dun & Bradstreet is a leader in the industry for data and analysis and their modern Finance and Risk Solutions and Sales and Marketing Solutions account for an increasing share of Bisnode’s sales and currently amounts to approximately 33%. The companies have had a close cooperation for two decades and complement each other well geographically. Bisnode holds a strong position in Northern and Central Europe, while Dun & Bradstreet is a market leader in the US and holds a leading position in several international markets including a strong position in the United Kingdom. The merger will make Bisnode a natural platform for Dun & Bradstreet in Northern and Central Europe, while creating opportunities for achieving economies of scale in such areas as sales, product development, data sources and analytics.

Other financial information
After the closing date, Ratos’s ownership in Dun & Bradstreet will be approximately 1%, corresponding to approximately SEK 1,000m based on Dun & Bradstreet’s volume weighted average closing price over the past 20 trading days until 6 October 2020.

The enterprise value of Bisnode’s Belgian operations is SEK 42m, but this has not been included in the transaction since the company differs sharply from Bisnode’s other operations and does not offer synergy opportunities for Dun & Bradstreet. Ratos intends to divest the business separately.

Ratos continued development towards a group of companies with a focus on profitable growth
Over the past two years, Ratos has been focused on stabilising the Group and increasing the profitability of its companies. At 30 June 2020, EBITA on a rolling 12-month basis was SEK 1,573m (SEK 829m). In the first half of 2020, 11 of 12 companies in the company group showed improved earnings.

Ratos’s management believes that there is scope for improving profitability and organic growth within the company group. Several companies have achieved stability and a level of profitability that also enables growth through acquisitions. The sale of Bisnode will create the financial conditions for implementing the add-on and potential new acquisitions that form part of the plan for the continued development of Ratos.

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Press and video/teleconference
At 10:00 a.m. on Thursday, 8 October, Jonas Wiström (President and CEO) will hold a press and video/teleconference. The press conference will be held at Ratos’s head office (Drottninggatan 2, Stockholm, Sweden). Only pre-registered participants may participate in person. Participation can be registered by sending an e-mail to anna.ringberg@ratos.com. Please note that the number of places are limited due to Covid-19.

To participate in the video/teleconference, call +443333009263 or +18338230589 or follow this link https://tv.streamfabriken.com/2020-10-08-press-conference. The presentation material is available on Ratos’s website: www.ratos.com.

In connection with the press and telephone conference, Stephen C. Daffron, President Dun & Bradstreet, will present his view on the transaction and be available for questions.

This is information that Ratos AB is required to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out below, on 8 October 2020 at 05.45 a.m. CEST.

 

For further information, please contact:
Jonas Wiström, CEO Ratos, +46 70 868 40 50
Helene Gustafsson, Head of IR and Press, +46 70 868 40 50, helene.gustafsson@ratos.com

 

About Ratos:
Ratos is a business group consisting of 12 companies divided into three business areas: Construction & Services, Consumer & Technology and Industry. In total, the companies have SEK 38 billion in sales and EBITA of SEK 1.8 billion. Our business concept is to develop mid-sized companies headquartered in the Nordics that are or can become market leaders. We enable independent mid-sized companies to excel by being part of something larger. People, leadership, culture and values are key focus areas for Ratos. Everything we do is based on Ratos’s core values: Simplicity, Speed in Execution and It’s All About People.

About Bisnode
Bisnode is a leading European data and analytic company. The company helps organisations to find and manage customers throughout the customer’s life cycle. With Bisnode’s Smart Data approach, companies can increase their revenue and minimise their losses. Bisnode is Dun & Bradstreet’s largest strategic alliance partner. The Group has its head office in Stockholm, and 2,100 employees in 19 countries. At 30 June 2020, sales on a rolling 12-month basis amounted to SEK 3,754m and EBITA was SEK 522m. 1/3 of revenue is derived from the company’s strategic partner Dun & Bradstreet.

About Dun & Bradstreet
Dun & Bradstreet, a leading global provider of business decisioning data and analytics, enables companies around the world to improve their business performance. Dun & Bradstreet’s Data Cloud fuels solutions and delivers insights that empower customers to accelerate revenue, lower cost, mitigate risk, and transform their businesses. Since 1841, companies of every size have relied on Dun & Bradstreet to help them manage risk and reveal opportunity.

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Bisnode acquires assets from AXON INSIGHT and strengthens its position in Switzerland

Ratos

Bisnode has acquired the customer assets of the Swiss company AXON INSIGHT and thereby expanding its leading position in marketing and decisioning solutions for the banking and insurance industry.

The customer assets which the acquisition include are primarily Banks and Insurance companies. Through combining Bisnode’s comprehensive data with AXON INSIGHT’s market-leading network aggregation and visualization capabilities Bisnode will strengthen its offer in an important market.

“The combination of Bisnode’s and AXON INSIGHT’s data will deliver important insights into the lead-generation process for banks and insurance companies and lead to significantly higher close rates. We are very pleased to have further strengthened our position in the Swiss market,” says Macario Juan, Managing Director, Bisnode Schweiz AG.

Markus Binzegger, CEO AXON INSIGHT continues, “With Bisnode we have found the ideal Smart Data & Analytics provider and I am more than convinced that we mutually will create the greatest possible value for our customers.”

About AXON INSIGHT
AXON INSIGHT AG is a leading provider in the field of relationship analytics. With the help of first-class network analysis functions for processing data from company registers, news and corporate networks, meaningful insights can be determined to drive business development strategies. AXON INSIGHT is part of the AXON Group, which develops pioneering solutions for its customers’ digital transformations with around 700 employees at 18 locations worldwide.

About Bisnode
Bisnode is a leading European provider of Data & Analytics with 2 100 employees in 19 countries. We help companies to find and manage customers throughout the entire customer lifecycle. With our Smart Data approach, companies can increase revenue and minimise losses. Bisnode is the largest strategic partner of Dun & Bradstreet, the global provider of business information.

 

For further information please contact
Macario Juan, Managing Director, Bisnode Schweiz AG, macario.juan@bisnode.com
Markus Binzegger, CEO, AXON INSIGHT, markus.binzegger@axonivy.com
Anna Albinsson, CMO, Bisnode, +46 (0)73 158 56 07, anna.albinsson@bisnode.com
Helene Gustafsson, Head of IR and Press, Ratos, +46 70 868 40 50, helene.gustafsson@ratos.se

 

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Bisnode strengthens its offering within bank account information

Ratos

Bisnode has started a strategic partnership with Tink, Europe’s leading open banking platform. The partnership will enable Bisnode to provide bank account data based on Tink’s account aggregation and data enrichment technologies in 7 of its markets across Europe.

“This is an important strategic move for Bisnode to build strength in our future risk and credit offerings,” says CEO Magnus Silfverberg.

The partnership with Tink will strengthen Bisnode’s leadership in the risk and credit space and give customers access to key datasets for risk decisions. In combination with Bisnode’s strong offering in credit reports and credit scores, bank account data will be an important basis for making credit decisions in the near future.

“This will be a game changer for lenders in the future and thus for Bisnode as a key provider of risk and credit data,” says CEO Magnus Silfverberg.

For more information: https://www.bisnode.com/about-bisnode/about-us/news/tink-partnership/

For further information, please contact:
Helene Gustafsson, Head of IR & Press, Ratos, +46 8 700 17 98, helene.gustafsson@ratos.se
Tomas Hedenius: +46 70 247 29 02, tomas.hedenius@bisnode.com
David Nilsson Nannini: +46 722 50 41 79, david.nannini@bisnode.com
About Ratos:
Ratos is a corporate group consisting of 12 companies divided into three business areas: Consumer & Technology, Construction & Services and Industry. In total, the companies have SEK 38 billion in sales and EBITA of SEK 1.8 billion. Our business concept is to develop medium-sized companies with headquarters in the Nordic region that are or have the potential to become market-leading. We make it possible for independent medium-sized companies to excel by being part of something larger. A focus on people and leadership, culture and values are key components of Ratos. Everything we do is based on our core values: Simplicity, Speed in Execution and It’s All About People.

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Bisnode strengthens its offering within bank account information

Ratos

Bisnode has started a strategic partnership with Tink, Europe’s leading open banking platform. The partnership will enable Bisnode to provide bank account data based on Tink’s account aggregation and data enrichment technologies in 7 of its markets across Europe.

“This is an important strategic move for Bisnode to build strength in our future risk and credit offerings,” says CEO Magnus Silfverberg.

The partnership with Tink will strengthen Bisnode’s leadership in the risk and credit space and give customers access to key datasets for risk decisions. In combination with Bisnode’s strong offering in credit reports and credit scores, bank account data will be an important basis for making credit decisions in the near future.

“This will be a game changer for lenders in the future and thus for Bisnode as a key provider of risk and credit data,” says CEO Magnus Silfverberg.

For more information: https://www.bisnode.com/about-bisnode/about-us/news/tink-partnership/

For further information, please contact:
Helene Gustafsson, Head of IR & Press, Ratos, +46 8 700 17 98, helene.gustafsson@ratos.se
Tomas Hedenius: +46 70 247 29 02, tomas.hedenius@bisnode.com
David Nilsson Nannini: +46 722 50 41 79, david.nannini@bisnode.com
About Ratos:
Ratos is a corporate group consisting of 12 companies divided into three business areas: Consumer & Technology, Construction & Services and Industry. In total, the companies have SEK 38 billion in sales and EBITA of SEK 1.8 billion. Our business concept is to develop medium-sized companies with headquarters in the Nordic region that are or have the potential to become market-leading. We make it possible for independent medium-sized companies to excel by being part of something larger. A focus on people and leadership, culture and values are key components of Ratos. Everything we do is based on our core values: Simplicity, Speed in Execution and It’s All About People.

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Spectrum to be acquired by TGS in an all share transaction

Altor

TGS-NOPEC Geophysical Company ASA (“TGS”) has agreed on the principle terms for an acquisition of Spectrum ASA (“Spectrum”), creating the world’s leading provider of multiclient seismic data.

The transaction is expected to be completed as a share-for-share merger with the consideration to Spectrum shareholders in the form of 0.28x ordinary shares of TGS for each Spectrum share, in addition to a cash consideration of USD 0.27 multiplied by the exchange ratio subject to the transaction closing after the ex-date for the TGS dividend payable in Q3 2019. The exchange ratio and the cash consideration imply a price per share for Spectrum of NOK 61.9 based on closing of the TGS share on 2 May 2019, corresponding to a market capitalization of NOK 3,671 million (USD 422 million) on a fully diluted basis. Following completion of the transaction, Altor Fund IV will hold approximately 3.7% of the fully-diluted shares outstanding in TGS.

The transaction will create a leading provider of multiclient 2D and 3D seismic data
covering all major mature and frontier basins world-wide. Spectrum has successfully built a substantial presence in the South Atlantic and other important frontier oil & gas regions. With TGS’ extensive library and financial robustness, the combined entity will be well positioned to accelerate 3D seismic investment plans in an improving market. Furthermore, the combined libraries will have a scale that will help accelerating TGS’ data analytics strategy. In addition to providing a platform for further profitable growth, the combination will benefit from significant cost synergies with a preliminary estimate of approximately USD 20 million annually.

“The strategic combination of TGS and Spectrum will form a stronger and better company with a world class data library, people and opportunities. We look forward to joining forces with TGS. There are strong strategic benefits from combining the companies, and we believe we can enhance our growth as part of a larger combined company,” stated Rune Eng, President & Chief Executive Officer of Spectrum.

“Over the past years, Spectrum has been through a growth phase with particular focus on establishing profitable positions in non-mature exploration basins, especially along the Atlantic margin. TGS´ interest in Spectrum is a manifestation of the solid position built by the Spectrum organization over a long time. Being ready for the next phase of the strategic growth plan, TGS is an excellent match, with its asset-light multi-client strategy and strong balance sheet. Altor Fund IV are proud to be part of creating a leading multi- client company, with a strong presence in all the major basins and superior cash generation capabilities”, stated Pål Stampe, Chairman of the board of Spectrum and partner at Altor Equity Partners, the investment advisor to Altor Fund IV.”

“Spectrum has successfully built a strong position in key offshore basins, particularly in the South Atlantic. The transaction thus fits well with one of TGS’s key strategic goals of growing exposure to this region. Moreover, Spectrum’s library, and in particular the vast 2D coverage, further adds to TGS’s strategy within data analytics, where access to large amounts of data is a key success factor. TGS remains committed to maintain the existing dividend policy and emphasizes that the strong cash position, the combination of two free cash flow positive entities, and significant cost synergies, will enable continued industry leading shareholder returns”, stated Kristian Johansen, Chief Executive Officer of TGS.

Definitive merger documents are expected to be entered into during May, with closing of the transaction expected during the third quarter of 2019 following shareholder approvals in EGM and regulatory clearance.

For more information, please contact:
Dean Zuzic, CFO at Spectrum, Tel: +47 41 43 35 60
Tor Krusell, Head of Communications at Altor, Tel: +46 70 543 87 47

About Altor
Since inception, the family of Altor funds has raised some EUR 8.3 billion in total commitments. The funds have invested in excess of EUR 4.2 billion in more than 60 companies. The investments have been made in medium sized, predominantely Nordic companies, with the aim to create value through growth initiatives and operational improvements. Among current and past investments are AGR Group, Helly Hansen, Lindorff, SATS, Rossignol Group, Carnegie Investment Bank, S-Banken, Nordic Trustee and Navico. For more information visit www.altor.com.

About Spectrum
Spectrum provides innovative Multi-Client seismic surveys and high- quality seismic imaging services to the global oil and gas industry from offices in the Norway, UK, USA, Brazil, Egypt, Australia, Indonesia and Singapore. Spectrum designs, acquires and processes seismic data to deliver high quality solutions through its dedicated and experienced workforce. Spectrum holds the world’s largest library of Multi-Client 2D marine seismic data and a significant amount of 3D seismic. The company’s strategy focuses on both the major, established hydrocarbon-producing regions of the world as well as key frontier areas identified by our experienced team of geoscientists. The Spectrum library of Multi-Client data contains projects from many of the foremost oil producing regions of the world. These include new acquisition, reprocessing and interpretation reports. For more information visit Spectrum online at www.spectrumgeo.com

About TGS
TGS-NOPEC Geophysical Company (TGS) provides multi-client geoscience data to oil and gas Exploration and Production companies worldwide. In addition to extensive global geophysical and geological data libraries that include multi- client seismic data, magnetic and gravity data, digital well logs, production data and directional surveys, TGS also offers advanced processing and imaging services, interpretation products, and data integration solutions. For more information visit TGS online at www.tgs.com

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Blackstone-Led Consortium Completes Partnership Transaction with Thomson Reuters for Financial & Risk Business

Blackstone

New York, October 1, 2018 – A consortium led by Blackstone (NYSE: BX) today announced that private equity funds managed by Blackstone (“Blackstone”) – together with Canada Pension Plan Investment Board (“CPPIB”) and GIC – have completed the previously announced partnership transaction with Thomson Reuters (TSX / NYSE: TRI) for Thomson Reuters’ Financial & Risk (F&R) business. The Blackstone-led consortium now owns 55 percent of the equity in a new corporation created to hold the F&R business, and Thomson Reuters retains a 45 percent equity stake, at an overall valuation of US$20 billion. The Financial & Risk business is now known as Refinitiv.

Refinitiv is one of the world’s largest providers of financial markets data and infrastructure, providing leading data and insights, trading platforms, and open data and technology platforms that connect communities of trading, investment, financial and corporate professionals. It also provides leading regulatory and risk management solutions to help customers anticipate and manage risk and compliance.

Martin Brand, a Senior Managing Director at Blackstone, said: “We are pleased to close this landmark partnership transaction with Thomson Reuters. Blackstone is excited to invest in Refinitiv to pursue a business plan focused on accelerating growth through innovation, in partnership with Refinitiv’s customers.”

Eli Nagler, a Managing Director at Blackstone, added: “We are excited to complete this transaction and look forward to supporting Refinitiv’s growth and continued technology advancements in the years ahead.”

Through this investment and carve out of F&R by the Blackstone-led consortium, the new Refinitiv business expects to invest in a number of key areas to serve its customer base, which currently includes 40,000 institutions in over 190 countries. This includes further investing in content coverage, AI and analytics across its open data platforms Elektron and Eikon for buy-side, trading, wealth and banking customers. It also plans to invest in enhanced capabilities for its leading platforms for trading, as well as in indices, risk management, and fighting financial crime.

“This is a unique moment in our 160-year history as the Financial & Risk business of Thomson Reuters now steps forward as Refinitiv,” said David Craig, CEO of Refinitiv. “We firmly believe that efficient, transparent and trusted markets are good for all and that Refinitiv’s role is at the heart of this, providing access to clean and consistent data on a global scale. With the backing of our investors, Refinitiv will continue to deliver the critical data, insights and open technology infrastructure that the market has come to expect while driving progress for our customers across trading, risk, banking, wealth and investment management and in areas such as financial crime and ESG investment. We look forward to exciting times ahead.”

Canson Capital Partners, BofA Merrill Lynch, Citigroup, and J.P. Morgan are acting as financial advisors to the Blackstone-led consortium, and Simpson Thacher & Bartlett LLP is acting as legal counsel to the Blackstone-led consortium.

About Blackstone
Blackstone is one of the world’s leading investment firms. We seek to create positive economic impact and long-term value for our investors, the companies we invest in, and the communities in which we work. We do this by using extraordinary people and flexible capital to help companies solve problems. Our asset management businesses, with approximately $440 billion in assets under management, include investment vehicles focused on private equity, real estate, public debt and equity, non-investment grade credit, real assets and secondary funds, all on a global basis. Further information is available at www.blackstone.com. Follow Blackstone on Twitter @Blackstone.

About CPPIB
Canada Pension Plan Investment Board (CPPIB) is a professional investment management organization that invests the funds not needed by the Canada Pension Plan (CPP) to pay current benefits on behalf of 20 million contributors and beneficiaries. In order to build a diversified portfolio of CPP assets, CPPIB invests in public equities, private equities, real estate, infrastructure and fixed income instruments. Headquartered in Toronto, with offices in Hong Kong, London, Luxembourg, Mumbai, New York City, São Paulo and Sydney, CPPIB is governed and managed independently of the Canada Pension Plan and at arm’s length from governments. At June 30, 2018, the CPP Fund totalled C$366.6 billion. For more information about CPPIB, please visit www.cppib.com or follow us on LinkedIn, Facebook or Twitter.

About GIC
GIC is a leading global investment firm established in 1981 to manage Singapore’s foreign reserves. A disciplined long-term value investor, GIC is uniquely positioned for investments across a wide range of asset classes, including equities, fixed income, private equity, real estate and infrastructure. In private equity, GIC invests through funds as well as directly in companies, partnering with its fund managers and management teams to help world class businesses achieve their objectives. GIC has investments in over 40 countries and has been investing in emerging markets for more than two decades. Headquartered in Singapore, GIC employs over 1,500 people across 10 offices in key financial cities worldwide. For more information on GIC, please visit www.gic.com.sg.

About Refinitiv
Refinitiv is one of the world’s largest providers of financial markets data and infrastructure, serving over 40,000 institutions in over 190 countries. It provides leading data and insights, trading platforms, and open data and technology platforms that connect a thriving global financial markets community – driving performance in trading, investment, wealth management, regulatory compliance, market data management, enterprise risk and fighting financial crime. www.refinitiv.com

Blackstone Media Contact
Matt Anderson
Senior Vice President, Global Public Affairs
T: 212 390 2472
matthew.anderson@blackstone.com

CPPIB Media Contact
Darryl Konynenbelt
Director, Global Media Relations
416-972-8389
dkonynenbelt@cppib.com

GIC Media Contacts
Ms Mah Lay Choon
Senior Vice President, Communications
Tel: +65 6889 6841
E-mail: mahlaychoon@gic.com.sg

Ms Wendy Wong
Senior Vice President, Communications
Tel: +65 6889 6928
E-mail: wendywong@gic.com.sg

Refinitiv Media Contacts
Kate Reid
Head of Communications
T: +44 20 7542 2215
kate.reid@refinitiv.com

Lem Brewster
Director, Communications
T: +1 646-223-5147
lemuel.brewster@refinitiv.com

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Nordic Capital acquires Macrobond – one of the leading providers of macroeconomic analytical solutions

Nordic Capital

Nordic Capital will support Macrobond in its vision to become the global platform of choice for people working in financial and economic research.Nordic Capital acquires Macrobond - one of the leading providers of macroeconomic analytical solutions Image

Nordic Capital Fund IX announces its acquisition of Macrobond, one of the world’s leading providers of research systems and macroeconomic and financial time series data from primary and third-party sources. Nordic Capital will support Macrobond on its growth journey and will invest to further strengthen the company’s market position. The company’s management team and also founders are reinvesting alongside Nordic Capital. This acquisition is the fifth investment by Nordic Capital’s latest fund, Fund IX, and builds on Nordic Capital’s recognised expertise and outstanding track record in the fintech sector.

Macrobond was founded in 2008 in Malmö, Sweden, with the intention of developing a better way for people to perform economic and financial research. Today, customers include central banks, investment banks, hedge funds, corporates, asset managers and universities. The company is well-positioned in an attractive segment of the global information services market, which is experiencing growth driven by strong industry trends such as productivity, user friendliness and integrated solutions. Macrobond has 156 employees, of which 90 are employed in data acquisition and development teams and offices in Europe, Asia, and the United States.

The company has developed a global and scalable SaaS application that offers an extensive database of macroeconomic and financial time series data coupled with powerful and dynamic analysis and charting tools. The application enables users to access and navigate time-series data and to mine data faster, automate repetitive tasks and simplify the workflow.

“Nordic Capital is one of the most prominent and experienced investors in the fintech sector in the Nordic region and therefore the ideal partner to continue supporting Macrobond’s growth strategy. With our unique database, tailored access and applications, they will support us as we continue to realise our vision to become the platform of choice for people working in financial and economic research worldwide,” says Tomas Liljeborg, CEO, Macrobond.

“The demand of financial big data analysis and visualisation is increasing continuously and Macrobond’s management team has an outstanding proven track record in financial software analytics. We look forward to working with them to expand Macrobond’s offering and its leadership as the platform of choice. With our long-term experience of accelerating growth in companies, we are confident that Nordic Capital is a great partner to support Macrobond on its growth journey,” says Fredrik Näslund, Partner at the Advisor to the Nordic Capital Funds.

The parties have agreed to not disclose the financial details of the transaction.

Nordic Capital was advised by a group of leading international advisory firms including Arma Partners and KPMG.

 

Media contacts:

 

Nordic Capital

Elin Ljung, Director of Communication and Sustainability
Advisor to the Nordic Capital Funds
Tel: +46 8 440 50 50
e-mail: elin.ljung@nordiccapital.com

Macrobond

Tomas Liljeborg, CEO
Tel: + 46 40 693 1709
e-mail: tomas.liljeborg@macrobond.com

 

About Macrobond:

Macrobond Financial is a young and rapidly expanding, international company with offices in Europe, Asia, and the United States. Its flagship product, the Macrobond application, is a single platform that combines an extensive macroeconomic and financial database with easy-to-use tools for analysis and smart data visualisation.

The application gives users access to a continuously maintained and updated global database. Data is procured from primary sources such as central banks, statistical agencies, and regulatory agencies as well as international sources such as OECD and IMF. This integrated research solution allows users to go from selecting data to immediately applying a broad range of analyses in a way that is both easy to work with and facilitates customization and full control. With the built-in charting, presentation and online-publishing tools users can deliver professional -looking charts and reports with minimal input and time, and minimize the tasks associated with maintaining and updating publications. Macrobond’s clients are professionals from both small and large private companies, organisations, and governmental institutions around the world. For further information about Macrobond please visit www.macrobond.com

 

About Nordic Capital

Nordic Capital is a leading private equity investor in the Nordic region with a resolute commitment to creating stronger, sustainable businesses through operational improvement and transformative growth. Nordic Capital focuses on selected regions and sectors where it has deep experience and a proven track record. Core sectors are Healthcare, Technology & Payments, Financial Services, Industrial Goods & Services and Consumer & Retail, and key regions are the Nordics, Northern Europe, and globally for Healthcare. Since inception in 1989, Nordic Capital has invested EUR 12 billion in over 100 investments. The most recent fund is Nordic Capital Fund IX with EUR 4.3 billion in committed capital, principally provided by international institutional investors such as pension funds. The Nordic Capital Funds are based in Jersey and are advised by advisory entities, which are based in Sweden, Denmark, Finland, Norway, Germany and the UK. For further information about Nordic Capital, please visit www.nordiccapital.com

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Investments in companies – 17.8.2017

BCB Medical, the Nordic market leader in gathering and analysing clinical data, has raised new capital from a group of high quality institutional investors led by Standout Capital and Tesi. The investors will support BCB Medical’s continued growth in the Finnish market and the launch of BCB’s quality register software and clinical data products internationally.

“Thanks to Standout Capital and Tesi’s investment, we will have more resources to serve the Finnish healthcare market and invest in new services and markets related to analysing and comparing clinical data. Our aim is to spread best practices in outcome-based healthcare, which will improve the quality of treatments and achieve a better quality of life for patients,” says BCB Medical’s Managing Director, Petteri Viljanen.

According to Viljanen, technology in healthcare is advancing at a fast pace across all specialist fields. That is why the continuous development of software requires resources and new expertise. BCB’s quality registers include among others diseases cancers, musculoskeletal diseases and heart diseases.

“With this investment, we will double our personnel from 50 to 100 employees in Finland over the next three years. At the same time, we will expand the coverage of our quality registries from the current 60 disease groups to 100, which can be considered an achievement even on an international scale,” Viljanen points out.

In November 2016, the procurement unit formed by Hospital District of Helsinki and Uusimaa (HUS) and KL-Kuntahankinnat chose BCB Medical as the technical supplier of the quality registries with a goal to harmonise treatment quality on a national level.

“As of today, more than 9 000 healthcare professionals in 200 clinics are using our software on a daily basis. The objective is to put in place comparable monitoring in all of Finland’s hospital districts,” says Viljanen.

Finnish model is well advanced

Viljanen stresses that the digital model created in Finland for comparing treatment quality is well advanced on an international level. The company has over the years collected a structured clinical database of 1 million treatments with up to 3 000 data points in each treatment – a highly valuable resource for healthcare professionals as well as medical and drug researchers at universities and pharma companies.

“We have received a lot of enquiries from other countries concerning the quality registries and the clinical data. We are actively looking for the right commercial partners, especially from the Nordic countries, to launch our services internationally. We could follow the footsteps of the Finnish gaming industry in becoming a global phenomenon in our field, the digitalisation of medical information. Our goal is that, in three years’ time, more than 30 per cent of the company’s turnover should be international,” Viljanen says.

Investors prove strong backers for growth and internationalisation

“We are very pleased to have these experienced investors join our team. Standout Capital brings world-class expertise in the growth and internationalisation of technology companies and Tesi, as a significant Finnish anchor owner, its huge networks in both Finland and abroad,” says Viljanen.

“We are impressed with BCB Medical’s success in working closely with the leading Finnish healthcare providers like HUS in developing software that ultimately benefits patients. BCB Medical is a great example of our strategy to partner with outstanding technology companies that are transforming their industries through digitalisation,” says BCB’s new Chairman and Standout Capital’s Partner, Erik Wästlund.

“We want to contribute to strengthening Finland’s key position as a world-leading country in utilising medical information. BCB Medical has long been developing its know-how and products in Finland, and is now ready to take the next step towards the global healthcare ICT market,” says Director Heli Alhroos from Tesi.

Following the investment, Standout Capital became the largest shareholder of BCB Medical and together with Tesi, the majority shareholders. Stockholm based Backstage Invest is also participating in the financing round. Old shareholders will continue as minority shareholders of the company.

For further information:
Petteri Viljanen, Managing Director, BCB Medical, tel. +358 400 727 366, petteri.viljanen@bcbmedical.com
Erik Wästlund, Partner, Standout Capital, tel+ 46 70 755 79 69, erik.wastlund@standoutcapital.com
Heli Ahlroos, Director, Finnish Industry Investment Ltd, tel. +358 40 077 2833, heli.ahlroos@tesi.fi

 

BCB Medical is the Nordic market leader in gathering and analysing clinical data. Our mission is to combine, analyse and illustrate clinical data gathered from various sources and present it in an understandable format so that current and future generations can live healthier lives. Our vision is to revolutionise the way clinical data impacts people’s lives. Our turnover amounts to around EUR 4 million, and we employ 53 people. The company’s head office is located in Turku, Finland, and we also have offices in Espoo, Oulu and Tampere. www.bcbmedical.com

Standout Capital is a Stockholm based private equity firm investing in growing tech companies. We have a personal approach and entrepreneurial know-how. The founders and investment team build on personal experience in entrepreneurship, investments and finance. As an active owner, we are personally highly engaged in our firm and the companies we partner with. Our mission is to support outstanding companies to grow and succeed. Standout Capital invests in Nordic growth companies and the digital transformation in business and society. www.standoutcapital.com

Tesi (Finnish Industry Investment Ltd) is a venture capital and private equity company that accelerates companies’ success stories by investing in them directly and via funds. Tesi always invests together with other investors, providing them with access to high quality deal flow in Finland. Our investments under management total 1 billion euros and we have altogether 723 companies in portfolio. www.tesi.fi

 

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EQT Mid Market US acquires Data Intensity

eqt

  • EQT Mid Market US acquires Data Intensity, a leading independent provider of mission-critical application and database managed services
  • EQT Mid Market US to support the continued growth trajectory of Data Intensity by leveraging EQT’s global network and relationships, experience in scaling international businesses as well as deep knowledge of the Software and IT Services industries

The EQT Mid Market US fund (“EQT Mid Market US”) today announced that it has acquired Data Intensity (“Data Intensity” or the “Company”) from Audax Private Equity. Data Intensity is a leading independent provider of mission-critical application and database managed services.

Founded in 2001, Data Intensity helps its customers increase the value of their enterprise software and improve the efficiency of critical business processes. The Company cost-effectively supports the full scope of a customer’s enterprise data, making their most critical applications and data manageable and actionable. The Company manages more than 3,000 application instances and 10,000 databases across multiple IT environments including on-premise, private cloud, public cloud, and hybrid cloud. Data Intensity is headquartered in Bedford, Massachusetts with over 650 employees and operations in the U.S., U.K., Europe, Australia, and India.

Brendan Scollans, Partner at EQT Partners, Investment Advisor to EQT Mid Market US, said: “We have been impressed by Data Intensity’s industry leading technical and functional capabilities, talented management team, and track record of delighting its customers. CEO Kirk Arnold and her team have built a world-class platform that is well positioned for increased momentum in the U.S. and internationally. EQT’s expertise in the technology and services sectors, along with its global network, will accelerate the company’s growth and expansion strategy.”

Kirk Arnold, CEO of Data Intensity, said: “As enterprises in data-intensive industries continue the shift to the hybrid cloud, we enjoy an emerging growth opportunity at the intersection of our expertise in application managed services, public and private cloud delivery platforms, and flexible business models. EQT’s investment will help us expand our portfolio of services, enter new markets and incorporate new service-oriented tools and technologies to capitalize on this trend while, above all else, continuing to focus on delivering world-class service to our customers.”

Kirkland & Ellis LLP served as legal advisor to EQT. Jefferies LLC and DH Capital LLC served as financial advisors to Data Intensity. Ropes & Gray LLP served as legal advisor to Data Intensity and Audax Private Equity. Golub Capital provided financing for the transaction.

Contacts:
EQT Press Office, +46 8 506 55 334
Brendan Scollans, Partner at EQT Partners, Investment Advisor to EQT, +1 (917) 281 0849
KEKST: + 1 (212) 521 4800 (US media) Daniel Yunger or Ross Lovern,
daniel.yunger@kekst.com / ross.lovern@kekst.com

About EQT
EQT is a leading alternative investments firm with approximately EUR 37 billion in raised capital across 24 funds. EQT funds have portfolio companies in the US, Europe, and Asia with total sales of more than EUR 19 billion and approximately 110,000 employees. EQT works with portfolio companies to achieve sustainable growth, operational excellence, and market leadership.

More info: www.eqtpartners.com

About Data Intensity
Data Intensity is a leading independent managed services provider for enterprise databases, applications, business intelligence solutions and analytics. Our expertise in applications, infrastructure and cloud platforms helps organizations optimize their software investments and business processes, achieving higher availability, performance, velocity and scalability. Our solutions combine best-in-category technology, world-class services, a flexible business model and deep expertise gained from partnering with our customers. Our goal is to cost-effectively support the full scope of a customer’s enterprise data lifecycle, making their most critical applications and data manageable and actionable.

More info: www.dataintensity.com

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