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Canadian PE firm acquires PornHub parent

MindGeek, the owner of several pornographic video-streaming platforms and studios, including Pornhub, is being acquired by Ethical Capital, a new private equity firm based in the Canadian capital of Ottawa, according to a report by The Financial Times.

Terms of the deal have not been disclosed.

According to unnamed FT sources, MindGeek’s most recently published figures show revenues in 2018 reached $460 million while profit margins have at times neared 50 per cent, while data from internet traffic analytics firm Similarweb ranks Pornhub as the 12th most visited website in the world last year.

The deal is Ethical Capital’s first acquisition since it launched last year with a focus on technology businesses that “have legal and regulatory complexity and that put a value on transparency and accountability”, according to the firm’s website. 

The firm is led by cannabis entrepreneur Rocco Meliambro and criminal lawyer Fady Mansour, who is listed as managing partner. Derek Ogden, a retired chief superintendent of the Royal Canadian Mounted Police, is also a partner at the firm.

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