GMT’s acquisition of Asiakastieto
Asiakastieto got a new owner Nordea, Osuuspankkikeskus Osk, Sampo Bank Plc and Luottokuntaare to sell theirs holding in Suomen Asiakastieto Oy to a fund managed by GMT Communications Partners III LLP. The total holding of the four main owners has been 80.6% of Asiakastieto’s share capital, and the rest has also been owned by the company’s customers, the largest of which are eg the central organisation and smaller organisations of trade. In connection with the deal, Asiakastieto’s largest minority owners will sell their holdings in Asiakastieto, after which GMT’s shareholding will rise above 90%. The deal will be implemented, when all the conditions set for it will have been met, approximately on 14 July. The parties have agreed not to disclose the price of the deal. GMT is a London-based private equity company investing in firms engaged in the ICT sector. GMT’s backing will help Asiakastieto expand organically and through potential acquisitions. Asiakastieto has been for long a very profitable and continuously growing and developing company, deeply rooted in the Finnish corporate field and lending. In 2005 the turnover of Asiakastieto totalled EUR 19.8 million and its personnel 134. Asiakastieto is a trusted source of high quality business and credit information for its customers. We are backing Mikko Parjanne and his team because he has done a tremendous job in developing the Company into the market leader in Finland. We are looking forward to working with him and his team to grow and develop the company further by serving its customers”, Nora Kerppola, Partner at GMT says.
GMT – Press release, April, 2008.
GMT exits Asiakastieto, the largest business & credit information company in Finland
GMT Communications Partners (“GMT”), the specialist private equity group focused on the European communications sector, has agreed to sell its portfolio company Asiakastieto (“AT”) to alternative investment firm Investcorp. The disposal is the first from GMT’s Third fund, and will generate an IRR of 70% in under two years. The exit of AT highlights GMT’s ability to achieve quality exits at good valuations despite current market conditions.