Advent International Said to Seek Buyers for BondDesk GroupMatthew Monks
Buyout firm Advent International Corp. is seeking buyers for BondDesk Group LLC, a debt-trading technology firm it bought in 2006 for an undisclosed amount, people with knowledge of the matter said.
BondDesk could fetch $200 million, said the people, who asked not to be identified because the matter is private. Advent, based in Boston, is working with investment bank Broadhaven Capital Partners LLC to solicit buyers for BondDesk, the people said.
London Stock Exchange Group Plc and Ipreo Holdings LLC are among the potential buyers that have expressed interest in the company, the people said. MarketAxess Holdings Inc. and Tradeweb Markets LLC also may bid for the company, they said.
Advent, BondDesk and Broadhaven didn’t return calls seeking comment. Representatives for London Stock Exchange, MarketAxess and TradeWeb declined to comment on their interest in BondDesk. A representative for Ipreo didn’t immediately respond to a request for comment.
BondDesk, founded in 1999, offers fixed-income trading execution and analysis services and is the largest retail bond-trading venue in the U.S., according to its website.
The company has about $20 million in annual earnings before interest, taxes, depreciation, and amortization, said one of the people familiar with the situation.