Macrobond owner Nordic Capital collects initial bids in wide sale process

The bids were due on Monday (3 July), one of the sources added. 

The sellisde — guided by Arma Partners, as reported — had reached out to a large pool of potential sponsor buyers, the sources and a further source familiar said. Some strategic players had also been invited to participate, one of them added. 

The company is being marketed off EBITDA of around EUR 30m, a fourth source familiar said. Some buyers have struggled to understand the adjustments on the financial figures the asset is marketed off and have declined to proceed in the process, a fifth source familiar said. 

KKR would be a logical bidder for the company given its past exposure to similar assets, one of the sources said. Warburg Pincus, Inflexion and TA Associates are among private equity firms with sector experience, as previously reported. 

Macrobond had EUR 30m FY22 revenue, according to Nordic Capital’s website. In April, Macrobond reported its “best-ever first quarter” by a “comfortable margin” since its founding, with annual recurring revenue growth (ARR) on a last twelve months (LTM) basis surpassing 32%. It did not disclose its first quarter revenue figure. 

Nordic Capital acquired a majority stake in the Malmo-based business, which delivers macroeconomic data under its SaaS platform, in 2018. Founded in 2008, the company provides macroeconomic and financial time series data from primary and third-party sources for clients including central banks, investment banks, hedge funds, among others. 

Nordic Capital and KKR declined to comment. Macrobond and TA Associates did not respond to requests for comment.