Permira said that funds advised by the private equity firm have agreed to acquire a majority stake in Acuity Knowledge Partners, a research, analytics, and business intelligence provider to the financial services sector, from Equistone Partners Europe.
The financial terms of the deal were not disclosed.
Equistone Partners, which is a Europe-based private equity investor, will reinvest in Acuity Knowledge Partners as a minority shareholder.
Acuity Knowledge Partners was established as an independent business in 2019 via a management buyout from Moody’s with the backing of Equistone Partners.
To expand its client base and service offering, Acuity Knowledge Partners, in 2022, acquired Cians Analytics, a provider of research and analytical support for financial institutions.
Acuity Knowledge Partners claims to serve more than 500 financial services firms, including advisory firms, private equity houses, banks, asset managers, and consultants.
Headquartered in London, the firm enables its customers to transform their practices and procedures, boost revenues, and optimise operational efficiency.
Acuity Knowledge Partners CEO Robert King said: “Supported by Permira and Equistone, who both have significant experience of investing in and growing first-class businesses in our sector, we are now driving numerous strategies for developing our offerings.
“Among other things, we want to deepen our relationships with our valued clients and forge new partnerships across our growing global client base.”
Following the investment from Permira, Acuity Knowledge Partners is expected to make further investments in its teams, services, and technology to serve its customers globally.
Permira Asia head Daniel Tan and principal Chris Pell said: “The Company stands out because of its domain expertise, scale, long track record serving blue-chip financial institutions and innovative technology solutions.
“In the context of rising cost pressures facing the financial services industry, the value proposition of Acuity’s tech-enabled, global delivery specialists is extremely clear.
“We see great potential for Acuity to further extend its leadership in existing segments as well as branch into new adjacencies and geographies – growth areas we are very experienced in facilitating via our deep sector knowledge, across both services and technology, and global network.”
The transaction is anticipated to be complete in Q2 2023, subject to customary regulatory approvals.