Investcorp acquires Asiakastieto from GMT: reaps 70% IRR

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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.