BC Partners, a London-based private-equity firm, agreed to buy financial-data provider Mergermarket Group from Pearson Plc for 382 million pounds ($624 million).
Nikos Stathopoulos, managing partner at BC Partners, said in an e-mailed statement today that the company will team up with Mergermarket Chief Executive Officer Hamilton Matthews’s group to invest “in the growth of the business through product development and geographical expansion.”
Mergermarket, which was founded in 1999, operates in 65 countries and controls brands such as Debtwire, DealReporter, Infinata, Wealthmonitor, and Xtract Research according to the statement. The London-based company had revenue of 100 million pounds and operating income of 25 million in 2012, Pearson said.
Pearson, which publishes the Financial Times, will use proceeds to accelerate growth in its education business. The London-based company is spending 150 million pounds this year to push into fast-growing regions and digital services.
JP Morgan Chase & Co. ran the sales process for Pearson and HSBC Holdings Plc acted as adviser to BC Partners.
BC Partners, which raised 6.7 billion euros ($9.1 billion) for its ninth fund in 2011, earlier this year purchased German academic publisher Springer Science & Business Media GmbH for about 3.3 billion euros from EQT Partners AB.
Private-equity firms typically pool money from pension plans and endowments with a mandate to buy companies within five to six years, then sell them and return the money and a profit after 10 years. The firms usually charge a management fee of as much as 2 percent and keep 20 percent of the profits.