BC-backed Mergermarket acquires Incisive Media's PE portfolio

The partial divestment comes three months after Incisive acquired risk technology analyst Chartis Research. 

BC Partners has also been supporting an acquisitive growth strategy for Mergermarket, bolting on Perfect Information for £26m in June 2014 and New York-based publisher The Law Report Group the following month.

The acquisition of Incisive’s private equity titles will give Mergermarket a private equity- and venture-capital-specific portfolio including both editorial titles and data.

Alchemy took control of Incisive via a debt for equity swap in January 2015 – a deal that saw the company's debt pile reduced from £110m to £25m. The firm has been invested in Incisive since November 2013.

Incisive originally came under private equity ownership in 2006, when it was delisted from the London Stock Exchange in a deal led by Apax Partners. Three years later, senior lenders took over the company following a debt-for-equity swap, with Apax Partners retaining a 2% stake and management retaining a 10% stake.

Previous funding
BC acquired Mergermarket from Pearson Group in December 2013 for £382m. BC emerged as the successful bidder following news in September that several private equity firms were courting the business, including HgCapital and Advent International.

Pearson had acquired Mergermarket from Beringea in August 2006 through its subsidiary, Financial Times Group, according to unquote" data.

Company
Originally known as City Financial Communications, Incisive Media was founded by Tim Weller through the launch of Investment Week in November 1994. It became Incisive Media in July 2000 following the acquisition of Timothy Benn Publishing, before floating on the London Stock Exchange later that same year.

AVCJ is based in Hong Kong, while unquote” operates out of Incisive’s London headquarters. The titles cover the Asian and European private equity and venture capital markets respectively.

People
Paul Bridges, Ian Cash, Toby Westcott and Ian Neill worked on the Incisive deal for Alchemy. Weller is chair and chief executive of Incisive. Hamilton Matthews is CEO of Mergermarket.

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