Francisco Partners is acquiring the business from rival private equity firm Nordic Capital, according to people familiar with the matter. The US-based firm beat out competition from other private equity groups and strategic buyers. Nordic Capital has made about six times its money after first backing Macrobond in 2018, showing the returns on offer to investors drawn to the typically predictable subscription-based revenues financial data providers have. Over the past 18 months, financial data providers Reorg and Leveraged Commentary and Data have both also traded hands in big money deals. Buyout group Permira took a majority stake last August in Reorg which valued the distressed debt and bankruptcy information provider at about $1.3bn. That came months after data group Morningstar acquired Leveraged Commentary and Data, which reports on debt financing transactions, from S&P in a deal worth up to $650mn. Nordic Capital bought Macrobond with the aim of helping it to expand its...
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