BPM backs MarkIT MBO with mezzanine as ASI exits

The GP provided a mezzanine loan to the MarkIT management team, which allowed it to re-acquire the stake it had sold to Ambient Sound Investments (ASI) in January 2007. ASI, the investment vehicle of a group of Skype founders, had invested €2m for a minority stake in Markit.

The deal, described by MarkIT CEO Andreas Agasild in a statement as "fair value", provides a full exit for ASI. Contacted by unquote", BPM Capital said it was unable to provide additional information about the financing's structure and terms.

Company
Headquartered in Tallinn, MarkIT is an IT procurement company operating in 28 countries across Europe and the US.

Founded in 2003, it had revenues of €62.8m in 2015.

People
BPM Capital – Kalmer Kikas (managing partner), Priit Veering (partner).
Markit – Andres Agasild (CEO).

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