ICG Enterprise Trust plc (“ICGT”) is pleased to announce that New Mountain Capital has entered into a definitive agreement to merge Information Resources Inc. (“IRI”), a portfolio company of ICGT, with The NPD Group (“NPD”), a portfolio company of Hellman & Friedman (the “merger”). IRI is a provider of mission-critical data and predictive analytics to consumer goods manufacturers via an industry-leading data management platform.
ICGT co-invested $15m (c. £12m) into IRI in 2018 alongside New Mountain Capital, and at 31 October 2021, IRI represented c. 2.9% of ICGT’s portfolio value. The merger represents a strong return on invested capital for ICGT.
The merger is expected to close in the second half of 2022, subject to standard antitrust and international approvals, and other customary closing requirements.
NPD is a global provider of market information and advisory services, with a client base of over 2,000 companies. The merger brings together two businesses with similar client-focused, innovative, and collaborative cultures and complementary industry expertise to create a premier global information services provider for the consumer goods industry.
Analyst / Investor enquiries: +44 (0) 20 3545 2000
Oliver Gardey, Head of Private Equity Fund Investments, ICG
Colm Walsh, Managing Director, ICG
Chris Hunt, Investor Relations, ICG
Clare Glynn, Corporate Communications, ICG +44 (0) 20 3545 1395
About ICG Enterprise Trust
ICG Enterprise Trust is a leading listed private equity investor focused on creating long-term growth by delivering consistently strong returns through selectively investing in profitable private companies, primarily in Europe and the US.
As a listed private equity investor, our purpose is to provide shareholders with access to the attractive long-term returns generated by investing in private companies, with the added benefit of daily liquidity.
We invest in companies directly and through funds managed by ICG and other leading private equity managers who focus on creating long-term value and building sustainable growth through active management and strategic change.
We have a long track record of delivering strong returns through a flexible mandate and highly selective approach that strikes the right balance between concentration and diversification, risk and reward.
This report may contain forward looking statements. These statements have been made by the Directors in good faith based on the information available to them up to the time of their approval of this report and should be treated with caution due to the inherent uncertainties, including both economic and business risk factors, underlying such forward-looking information. These written materials are not an offer of securities for sale in the United States. Securities may not be offered or sold in the United States absent registration under the US Securities Act of 1933, as amended, or an exemption therefrom. The issuer has not and does not intend to register any securities under the US Securities Act of 1933, as amended, and does not intend to offer any securities to the public in the United States. No money, securities or other consideration from any person inside the United States is being solicited and, if sent in response to the information contained in these written materials, will not be accepted.
Although this investment does not amount to price sensitive material information, ICG Enterprise Trust is making this information public on an illustrative basis to aid with market understanding of our portfolio. Similar announcements may be made in respect of future non-material investments.
This announcement relates to portfolio activity in April 2022. As such, this represents a non-material post-balance sheet event subsequent to ICGT’s financial year-end of 31 January 2022.