Pearson sells Mergermarket to funds advised by BC Partners for £382m

PearsonPearson Plc is today announcing that it has agreed the sale of The Mergermarket Group to funds advised by BC Partners for an enterprise value of £382 million, payable in cash.

Mergermarket is a leading provider of global corporate financial news, intelligence and analysis to advisory firms, investments banks, law firms, hedge funds, private equity firms and corporations operating in 65 countries. The Company was founded in 1999 and acquired by Pearson in 2006 for £101m plus a subsequent earn-out.

Mergermarket has grown substantially under Pearson’s ownership, reporting revenues of £100 million, operating income of £25 million and profit before tax of £23 million in the 12 months to 31 December 2012, and continues to grow strongly. Over the same period, Mergermarket contributed 2.5 pence to Pearson adjusted earnings per share. At 30 June 2013, Mergermarket had gross assets of £129m.

The transaction is expected to close by the end of the first quarter of 2014.

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