Ipreo Holdings is to be acquired by private equity funds managed by Blackstone and the Goldman Sachs merchant banking division.
The sponsors are acquiring the business from affiliates of Kohlberg Kravis Roberts (KKR), who will retain a minority ownership stake in the business. Terms of the transaction have not been disclosed.
Ipreo is a provider of new issuance software solutions across the equity, fixed income, municipal, and syndicated loan markets, including bookbuilding systems, roadshow and conference management platforms, and electronic document delivery.
Ipreo's suite of investor relations services provides corporate clients with cross-asset class surveillance, shareholder analysis, investor targeting, perception studies, proxy solicitation and transaction analytics.
"Together with KKR, we have grown significantly and solidified our leadership in capital markets software, and data and analytics services. We are excited to partner with Blackstone, Goldman Sachs and KKR in our next phase of development," says Scott Ganeles, chief executive officer of Ipreo. "Our new investors bring a complementary set of experience, relationships, and in-market expertise that will help support the growth of the business and will allow us to provide our customers with accelerated access to new market-leading products."
"The Ipreo executive team has done a remarkable job building Ipreo's leading product portfolio and strong market position. We are pleased to have the opportunity to partner alongside management, Goldman Sachs and KKR," says Martin Brand, senior managing director of Blackstone. "We look forward to working with Ipreo and positioning it for continued innovation and success."
