Inflexion launches €143m take-private bid for Infront

The GP first announced its plans in December 2020, and will be deploying equity from Inflexion Buyout V, which held a final close in 2018 on its hard-cap of £1.25bn. The vehicle deploys equity tickets of £10-200m in European companies, and is particularly focused on technology and data businesses.

The GP said its experience developing data and technology companies, along with providing access to additional capital, will contribute to the company's future development.

It added that the take-private deal will "allow for the prioritisation of longer-term strategic value-creation objectives, and enter a period of substantial organic and inorganic investments, potentially at the expense of short-term profit".

The GP is offering NOK 34.40 per share, which represents a 30.9% and 56% premium to the one- and three-month period to 14 December 2020, and 25.8% premium to the price in the last five trading days to 15 December 2020.

The board of directors said in a statement that the consideration offered for the shares in the company was "attractive", with Infront's founders, Kristian Nesbak and Morten Lindeman, previously saying that the offer was "the best alternative for Infront and its shareholders".

Company
Founded in 1998 and based in Oslo, Infront is a provider of market data, news, analytics and trading tools to 3,000 customers and 90,000 users. It employs 500 staff.

Advisers
Equity – DNB Markets (financial due diligence); Advokatfirmaet Thommessen (legal); Travers Smith (legal).
Company – ABG Sundal Collier (financial due diligence); Advokatfirmaet Selmer (legal).

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