Bowmark Capital sells Data Explorers to Markit

Bowmark acquired the company in 2007. During Bowmark's holding period, Data Explorers' sales have expanded by 30%, while its profits have increased by 40%.

The buying party, Markit, is a financial information provider, majority owned by JP Morgan, Goldman Sachs and Morgan Stanley. Private equity house General Atlantic aquired a 7.5% stake in Markit in 2010. The company is valued at $3bn.

Company
Data Explorers is a British information provider for securities lending and short interest data. It is mostly used for investment risk management. Its services are accessible through Bloomberg, FactSet and Thomson Reuters.

The company was founded in 2002 and employs 100 people.

People
Charles Ind, managing partner, led the deal on behalf of Bowmark. Donal Smith is CEO of Data Explorers.

Advisers
Equity - Ashurst LLP, Jonathan Earle (Legal).
Vendor - Deutsche Bank, Harlan Wakoff, Jason Gurandiano, Eleni Lionaki (Corporate finance); SJ Berwin LLP, Jonathan Pittal, Warren Allen (Legal); KPMG, Neil Davies (Tax and accounting due diligence).
Management - Nabarro LLP, Iain Newman, Joh Finnemore (Legal); Kingsley Napsley LLP, James Fulforth (Legal).

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