Funds advised by private equity firm Permira have reached a deal to purchase a majority stake in Acuity Knowledge Partners from mid-market private equity investor Equistone Partners Europe.
The deal value was not shared by the companies.
Acuity provides the financial services industry with research, analytics and business intelligence.
It is said to cater to more than 500 financial services companies, such as banks, asset managers, advisory firms, private equity houses along with consultants.
Based in London, Acuity also has operations in the US, India, Sri Lanka, China, UAE, among others.
Equistone plans to reinvest in Acuity as a minority shareholder, as part of the new deal.
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By GlobalDataAcuity’s existing management will continue to be ‘significantly’ invested in the company.
The firm also plans to make additional investment in its workforce, services and technology.
Currently awaiting regulatory nod, the deal is anticipated to complete by the second quarter of this year.
Acuity CEO Robert King said: “Despite the current challenges for the financial services sector, we have experienced continued growth and a strong demand for our solutions and services.
“Supported by Permira and Equistone, who both have significant experience of investing in and growing first-class businesses in our sector, we are now driving numerous strategies for developing our offerings.
“Among other things, we want to deepen our relationships with our valued clients and forge new partnerships across our growing global client base.”
In 2019, Acuity became an independent entity after a management buyout from Moody’s backed by Equistone.
Last year in September, the firm announced the purchase of Cians Analytics, which offers research and analytical capabilities to financial institutions.