Bahrain-based Investcorp announced that it has agreed to sell UK-based debt placement company TDX to Equifax, a global information solutions provider, for £200 million (approximately $327 million).
TDX is the UK’s largest debt placement services and debt management platform company.
Investcorp acquired a minority stake in TDX in 2008 through its technology fund, Investcorp Technology Partners III, becoming the largest and only institutional shareholder along with TDX’s three founders.
Founded in 2004 and headquartered in Nottingham, TDX employs approximately 345 people globally. It provides businesses with technology, data and advisory solutions to improve debt liquidation and the fair treatment of consumers in financial arrears.
Mohamed Sammakia, MD at Investcorp and regional head for the UAE, said: “TDX has become an international business of scale in a relatively short time and we are delighted to have been able to contribute to, and, on behalf of our investors, share in its success.”
Investcorp was advised on the transaction by Canaccord Genuity (financial) and King & Wood Mallesons (legal).
The transaction is Investcorp’s third successful exit of its technology portfolio in the last 12 months – in August, the firm sold the Skrill Group, one of Europe’s largest online payment systems, to CVC Capital for $800 million, and it partially exited from Fleetmatics, the Irish-based provider of fleet management solutions through a floatation on the New York Stock Exchange.
Investcorp, which has $10.5 billion assets under management, has also exited from Armacell, the German developer of technical insulation materials and IPH Group, a French distributor of industrial supplies within the last year.