logo
  

CVC Capital To Buy Cerved From Bain Capital, Clessidra For 1.13 Bln Euros

UK-based private equity firm CVC Capital Partners Ltd. agreed Wednesday to acquire Italian data company Cerved Group SpA from its private equity owners Bain Capital, LLC and Clessidra SGR S.p.A. for 1.13 billion euros. The completion of the deal is subject to customary competition clearances.

"I am excited to work with CVC in the next phase of the development of Cerved. Our plan is to continue pursuing the growth of the business both organically and through acquisitions consistently with what we have done in the past few years. This is in line with our strategy of improving quality of services and of innovating our offer to always better serve our customers in this mission critical area," Cerved CEO Gianandrea De Bernardis said in a statement.

Bain Capital is one of the world's leading private investment firms with about $66 billion in assets under management, while Clessidra is the largest independent Italian private equity firm.

Milan-based Cerved is Italy's leading provider of business credit information to over 30,000 clients, including 90 percent of Italian banks and over 80 percent of Italy's top 1,000 companies.

Cerved Group was formed in 2009 by its private equity owners by acquiring non-core assets from a group of Italian banks. The group is made up of Cerved BI, Lince, Centrale dei Bilanci, Databank, Finservice, Jupiter e Consit.

Cerved, a corporate intelligence and rating agency, generated revenues of 292 million euros in 2012.

Cerved has the most comprehensive database of corporate information in Italy, including corporate and financial details, payment history, customer and supplier relationships, and proprietary information sourced through its own network of interviewers.

Cerved has transitioned itself from a bank-owned captive provider of credit information into an independent leader across the banking and corporate markets over the years.

Luxembourg-based CVC Capital is said to have pipped European private equity giants Permira Advisers LLP and BC Partners Ltd. to win the deal.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Walt Disney's streaming service Disney+ is rolling out its much-anticipated new ad-supported subscription plan for Disney+ in the U.S. as part of its bid to stem the loss and make its streaming business profitable after the services posted a hefty operating loss of more than $1 billion in the third quarter. It is also raising pricing for its bundled subscription plans with Hulu, ESPN+ and live TV. The U.S. Food and Drug Administration announced the intended availability of base powder to make around 6 million bottles of specialty formula from Mexico as part of its efforts to meet the nationwide supply shortage caused by Abbott Nutrition recall. Reckitt Nutrition/Mead Johnson Nutrition will send an initial shipment of 331 thousand pounds of base powder for PurAmino Hypoallergenic Formula. Shares of Deutsche Telekom AG were gaining more than 1 percent in the morning trading in Germany after the telecom major on Thursday raised its fiscal 2022 earnings outlook again, despite reporting lower profit in its second quarter. Adjusted EBITDA AL, a key earnings metric, increased, while adjusted EBITDA AL margin dropped.
Follow RTT