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Transactions

April 2014
Private equity funds managed by Blackstone and by the Goldman Sachs Merchant Banking Division (together, the sponsors) have acquired
from affiliates of Kohlberg Kravis Roberts & Co. L.P.


Background

Founded in 2006 with the merger of i-Deal and Hemscott, Ipreo Holdings LLC ("Ipreo"), based in New York, New York, is a global leader in providing market intelligence, data, and technology solutions to all participants in the global capital markets, including sell-side banks, publicly traded companies, and buy-side institutions. Ipreo has more than 700 employees supporting clients in every major financial center around the world. From new issuance through ongoing investor management, Ipreo’s unique solutions drive connectivity and efficiency throughout all stages of the capital-raising process.

Marlin & Associates (“M&A”) is one of the most active investment banking advisory firms in the capital markets technology sector and was very familiar with Ipreo and the competitive landscape it operates in. Furthermore, in 2007, M&A advised Ipreo and its owners at the time, Veronis Suhler Stevenson (“VSS”), on the sale of its Hemscott unit to Morningstar. M&A maintained close relationships with Ipreo and VSS as they were bidders on several other firms which M&A advised. In May of 2011, VSS announced the sale of Ipreo to affiliates of Kohlberg Kravis Roberts & Co. L.P. (“KKR”).

In early 2014, when M&A became aware that KKR was open to divesting Ipreo, M&A approached the Merchant Banking Division of Goldman Sachs (“Goldman Sachs”), as M&A believed Goldman Sachs was uniquely positioned to add value and help Ipreo grow. Subsequently, Goldman Sachs engaged M&A as an advisor to pursue a potential acquisition of Ipreo.

The Merchant Banking Division of Goldman Sachs is one of the leading private equity investors in the world, having invested and committed approximately $45 billion of equity capital in over 650 companies globally across its corporate equity investing business. Goldman Sachs Group, Inc. is a leading global investment banking, securities and investment management firm that provides a wide range of financial services to a substantial and diversified client base that includes corporations, financial institutions, governments and high-net-worth individuals.



Overview

On April 14, 2014, private equity funds managed by the Goldman Sachs Merchant Banking Division and Blackstone (together, the “Sponsors”) signed a definitive agreement to acquire a majority stake in Ipreo from affiliates of KKR, who retained a minority ownership stake in the business.

The terms of the transaction were not disclosed.

M&A Role

M&A’s thorough understanding of the marketplace, competitors and potential follow-on acquisition opportunities enabled the firm to provide valuable support to the Sponsors throughout the deal process. M&A conducted financial analysis, a review of Ipreo management’s business plan and financial forecasts, a competitive benchmarking analysis, a market share analysis and aided in the identification of potential follow-on acquisition opportunities. M&A is pleased to have advised the Sponsors on this very important transaction.

Press

Marlin & Associates Advises Goldman Sachs Merchant Banking Division and Blackstone on Acquisition of Ipreo From KKR.

April 15, 2014

NEW YORK, NY--(Marketwired - Apr 15, 2014) - Marlin & Associates, the boutique investment banking and strategic advisory firm, announced today that it advised private equity funds managed by Blackstone (NYSE: BX) and by the Goldman Sachs (NYSE: GS) Merchant Banking Division (together, the "Sponsors") on their acquisition of Ipreo Holdings LLC ("Ipreo") from affiliates of Kohlberg Kravis Roberts & Co. L.P. ("KKR") (NYSE: KKR), who will retain a minority ownership stake in the business.

For Ipreo's press release click here

Ipreo is a leading global provider of market intelligence and workflow solutions to capital markets and corporate professionals.

"We are pleased to have advised the Sponsors of this very important strategic transaction" said Michael A. Maxworthy, a Partner of Marlin & Associates. "We believe that they are uniquely positioned to help support the growth of Ipreo to the next level and to provide the company with accelerated access to new markets and new products."

Marlin & Associates is one of the most active firms advising buyers and sellers of U.S. and international middle-market firms that provide software, data, and related services. The firm has been the recipient of numerous awards and has advised on four announced information technology transactions in the past three months.

About Marlin & Associates

Marlin & Associates is based in New York City, with offices in San Francisco, CA, Washington, DC, Toronto, Canada, and Hong Kong, China and has been the recipient of numerous awards including "Middle-Market Investment Bank of the Year", "Middle-Market Financing Agent of the Year - Equity" and, "TMT Advisory Bank of the Year". Two transactions on which Marlin & Associates advised have been recognized as "Deals-of-the Decade". Marlin & Associates' team of professionals has advised on over 200 information-technology transactions. For more information please visit www.MarlinLLC.com.

Marlin & Associates Securities LLC, a wholly-owned subsidiary of Marlin & Associates Holding LLC, is a broker-dealer registered with the Securities and Exchange Commission and is a FINRA/SIPC member firm (www.finra.org). Investment banking and/or securities are offered through Marlin & Associates Securities LLC.

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