Data group Kpler's minority owners consider stake sale, sources say
LONDON, Jan 31 (Reuters) - Five Arrows and Insight Partners are considering selling their minority stake in Belgium's Kpler, three people familiar with the matter said, as specialised data providers see a wave of deals.
The two private equity firms invested more than $200 million for a holding in Brussels-based Kpler in April 2022. The rest is held by co-founders François Cazor and Jean Maynier, who want to maintain control of the business, the people said.
Advertisement · Scroll to continue
Report this ad
A spokesperson for Kpler declined to comment. Rothschild-owned Five Arrows, which manages 24 billion euros of assets, declined to comment. Cazor and Maynier declined to comment.
Insight Partners did not respond to requests for comment.
Kpler, which specialises in commodities data, received formal pitches from investment banks in the last week for a financial adviser role, the people said, speaking on condition of anonymity because the matter is private.
A deal could give Kpler an enterprise value of more than 3 billion euros ($3.11 billion), based on estimated annual recurring revenue of more than 200 million euros for 2025 and demand for financial data assets, two of the people said.
Preparations are at an early stage ahead of an auction process later this year, the sources said, adding that it is not certain that a deal will emerge.
Specialised data providers have attracted elevated valuation multiples in recent years, with investors drawn to their predictable subscription-based revenues and steady cashflow.
Last year London-based Argus Media was valued at $4.6 billion, including debt, when chief executive Adrian Binks gained control of the energy data firm, while BlackRock (BLK.N), opens new tab acquired Preqin for 2.55 billion pounds ($3.17 billion).
Private equity firms are facing pressure to return capital to the institutional funds that back them.
Founded in Belgium in 2014, Kpler provides data and information on commodities including gases, liquids and dry bulk as well as other areas of the shipping and maritime industry.
Led by CEO Mark Cunningham, Kpler has made a string of acquisitions in recent years, including Spire's maritime business last November for $241 million.
It also acquired ClipperData in 2021 and JBC Energy in 2022, as well as MarineTraffic and FleetMon in 2023.
Kpler has more than 600 employees, with offices in New York, Dubai, London and Paris.
($1 = 0.9599 euros)
($1 = 0.8035 pounds)
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
The Independent
11 minutes ago
- The Independent
Moonpig boss set to bow out after seven years in role
Moonpig has revealed that boss Nickyl Raithatha plans to leave the firm after seven years in the role. The online greetings card firm said Mr Raithatha has a year's notice period and will continue to lead the firm while it hunts for a successor. Chairwoman Kate Swann said: 'I would like to thank Nickyl for his service and contribution as chief executive, including leading the group to a successful initial public offering (IPO) on the London Stock Exchange in 2021.' She added: 'Nickyl has built a seasoned leadership team that will drive strong execution continuity during the transition. 'We are well prepared from a succession perspective and will continue to work closely with Nickyl as we look to appoint his successor.' Mr Raithatha joined the online retailer in 2018 after having founded and led womenswear brand Finery as chief executive. He said: 'After seven years as chief executive, I am proud to leave the group in a strong position.' He added: 'As today's full-year results show, the business is in excellent shape, with strong momentum, an experienced senior leadership team and significant growth potential. 'Until I hand over to my successor, I remain focused on executing our strategic priorities.' Details of his departure plans came as the firm reported a 16% rise in underlying pre-tax profits to £67.5 million in the year to April 30 and said more recent trading saw it enjoy record Father's Day demand. It notched up a 2.6% rise in revenues to £350.1 million. On a reported basis, the group saw profits slump to £3 million from £46.4 million a year earlier. It took a £56.7 million write-down in the group's first half on its experiences division, but said it was 'taking proactive steps to reposition the Experiences proposition against a challenging market environment'. On the current financial year, Moonpig said: 'Since the start of the year, trading across the group has been in line with our expectations, including strong Father's Day trading.' Mr Raithatha said the group had enjoyed its biggest ever Father's Day, with sales outstripping records seen at the peak of lockdown in 2020. The firm expects underlying earnings to grow at a 'mid-single digit percentage rate' in 2025-26.
The Guardian
12 minutes ago
- The Guardian
Shell ‘no intention' of making offer to buy BP after £60bn takeover rumours
Shell has said it has 'no intention' of making an offer for the rival fossil fuel company BP after speculation it had been planning a £60bn takeover, ruling out a formal approach for the next six months. In an official statement to markets on Thursday, the company doubled down on the previous day's denials that it was planning a bid, following media reports that it was in early talks with its competitor to create a £200bn UK oil supermajor. Shell said it had not been actively considering making an offer for BP, adding it 'has not made an approach to, and no talks have taken place with, BP with regards to a possible offer'. Shell toughened its stance against the growing market speculation by making the statement under rule 2.8 of the UK's takeover code, a set of rules that governs mergers and takeovers of listed companies. The company said it would now be bound by the restrictions set out under rule 2.8 which means Shell will be blocked from making a formal offer to buy BP for at least half a year. However, Shell reserved the right to make an offer in the event another company bids for BP, or if it has the agreement of BP's board, or if BP asks for a waiver, or if there is a material change of circumstances. The 2.8 announcement came after Shell was forced to issue a statement late on Wednesday to quash media reports it was in early talks to buy BP. The company referred to a Wall Street Journal (WSJ) report that first raised claims of early talks between the two companies, as 'further market speculation'. It added that 'no talks are taking place'. The market has been gripped by speculation that Shell would use its recent run of better than expected profits to make a play for its struggling rival while its market value is low. Shell's chief executive, Wael Sawan, was forced to deny Shell's rumoured plans of a BP takeover, saying the company was more interested in buying back its own shares than buying another company. Sign up to Business Today Get set for the working day – we'll point you to all the business news and analysis you need every morning after newsletter promotion BP has lost almost a third of its market value in the past year, and is now worth about £58bn, after a turnaround plan by its chief executive, Murray Auchincloss, failed to convince investors that it could recover from a botched attempt to become a net zero energy company. According to the WSJ report, talks between company representatives were moving forward slowly while BP carefully considers the approach, but it added that a final deal to create a new oil company remained far from certain. Shell said: 'We remain focused on delivering more value with less emissions through performance, discipline and simplification.'
The Independent
13 minutes ago
- The Independent
Shell denies reports that the energy giant is in talks to take over BP
British oil giant Shell on Thursday denied media reports that it is in talks to buy rival BP. The Wall Street Journal on Wednesday said Shell was holding 'early stage talks,″ to acquire BP, citing people familiar with the matter. 'In response to recent media speculation Shell wishes to clarify that it has not been actively considering making an offer for BP and confirms it has not made an approach to, and no talks have taken place with, BP with regards to a possible offer,' Shell said in a statement to the London Stock Exchange. Shell has repeatedly denied speculation that it was considering a takeover of its smaller rival BP, saying it was focused on streamlining and simplifying its own business. Some analysts have suggested BP would be an attractive takeover after a plan to shift its focus to renewable energy, which was abandoned earlier this year, left its shares undervalued in comparison to other oil companies. BP has also struggled to recover from the 2010 Deepwater Horizon disaster, which killed 17 workers and forced the company to pay billions of dollars for environmental damage in the Gulf of Mexico.
