Business is part of maritime intelligence arm bought by Montagu private equity
usiness publisher Informa has sold the world famous Lloyd’s List insurance information platform in a £385 million deal offloading its maritime intelligence arm to Frankfurt-based private equity firm Montagu.
Lloyds infamously listed the insurance of the doomed Titanic and her sister ship, the Olympic, on behalf of the White Star Line.
The maritime intelligence platform provides data, insight and intelligence used across the shipping industry and the deal was announced as part of the publisher’s first half results that included growth of 59.1% in group revenues to £1 billion as operating profits leapt 226.6% to £234.5 million.
Informa said the performance was a result of “strength in academic markets, growth in B2B digital services and the continuing return of live and on-demand B2B events”.
Stephen A. Carter, boss of Informa, said: “By diving non-core assets, including today’s sale of maritime intelligence, we have generated $3 billion (£2.4 billion) in value, providing additional flexibility for shareholder returns, additional growth investment and further targeted expansion.”
Director at Montagu, Edward Shuckburgh added: “Maritime intelligence is a unique business with a historic legacy and reputation hard-won over hundreds of years.
“It is complementary to our portfolio of data and analytics investee companies with strong current growth and revenue acceleration potential. We are pleased to welcome the business to the Montagu family.”
Michael Dell, CEO of maritime intelligence, said: “Partnering with Montagu supports our continued delivery of innovative maritime analytics for customers, and we are confident of a bright and prosperous future under their leadership.”
Credit: www.standard.co.uk /