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|Date invested||December 2018|
|Underlying manager||New Mountain Capital|
IRI provides data, predictive analytics and insights to some of the world’s leading consumer goods manufacturers, retailers, healthcare and media companies, such as Pepsi, Nestlé and Unilever. IRI’s services help them to market, grow their businesses and take critical business decisions. It provides most of its services through an industry leading technology platform, IRI Liquid Data.
IRI’s software allows its clients to closely track purchasing trends. This in turn helps clients understand the changes in consumer and shopper behaviour across categories, brands, channels and retailers. IRI offers solutions to help its clients successfully determine how to best handle areas such as promotions, out-of-stock items, pricing and assortment to meet the changing needs of consumers.
IRI was originally acquired by New Mountain in 2011. It partially realised its investment in the company from its third fund in 2018. ICG Enterprise was invited to participate alongside a consortium of other institutional investors. New Mountain continues to be the largest shareholder in the company and is actively involved in guiding its operations and strategy. We were attracted by New Mountain’s historical success investing in the company, coupled with its experience of investing in similar businesses. IRI is a good example of a defensive growth business: the ‘mission critical’ nature of its offering meant that it has historically traded well through periods of economic volatility.