Investcorp acquires Asiakastieto from GMT: reaps 70% IRR

Investcorp, together with management, has acquired Asiakastieto, Finland's largest credit and business information company, from GMT Communications Partners III LP for an undisclosed sum. GMT reaped an IRR of 70% on the divestment, marking the first exit from GMT's third fund. GMT started working on different exit routes during the last quarter of 2007 with Rothschild exploring alternative options, including a refinancing. With the support from the banks that advised on the deal, a full exit was selected as the favoured option due to the strong organic growth of the business.

Since the original buyout, EBITDA has increased by 31% per annum, and net turnover has increased by 20% per annum over the same period. These results were achieved by enhancing the proprietary database and increasing the quality of the services offered.

The Helsinki-based company has a 74% share of the Finnish credit information market, in which it is the sole owner of a personal credit information database.

The business was founded in 1961 by a group of Finnish banks, wholesalers and retail chains. As of 31 December 2007 it has approximately 23,000 customers, including large financial institutions and telecoms operators, and recorded a turnover of EUR25.7m, up 24% from the previous year.

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