TIDMSOG
RNS Number : 8828B
StatPro Group PLC
12 June 2019
12 June 2019
StatPro Group PLC
StatPro acquires ESG research and index business
StatPro Group plc (AIM:SOG, "StatPro", "the Group"), the AIM
listed provider of cloud-based portfolio analysis and asset pricing
services for the global asset management industry, has acquired the
environmental, social and governance ("ESG") research and index
business unit ("ECPI") from ECPI Group Srl for a total estimated
consideration (included deferred contingent consideration) of
EUR2.9 million (GBP2.6 million) in cash.
Highlights
-- ECPI has annualised recurring revenues of approximately
EUR0.9 million (GBP0.8 million) and generated EUR0.3 million
(GBP0.2 million) EBITDA in 2018
-- Expected to enhance Group adjusted EPS in the first full year following acquisition
-- Enhances Source: StatPro's benchmark offerings with growing
demand for ESG ratings and indices
ECPI provides ESG indices and benchmarks and related services
including constructing client specific benchmarks. It carries out
ESG research and produces ratings on an active universe of
approximately 3,500 companies (total universe of 4,500+) globally
and uses these ratings to qualify companies for inclusion into a
series of ESG investable indices, or to provide portfolio screening
services.
The consideration for the acquisition comprises:
-- initial cash consideration of EUR0.9 million (GBP0.8 million)
payable in cash from existing debt
facilities on completion (expected 1 July 2019)
-- deferred contingent consideration (payable in March 2022)
currently estimated to be an additional EUR2.0 million
-- deferred contingent consideration is calculated based on two
times the net increase in ARR to December 2021, is capped at EUR10
million and subject to a reduced multiple if the EBITDA of the
business unit is less than 20% margin.
StatPro expects annual revenue levels for the acquired service
to remain broadly similar for 2019 and will incorporate ECPI
revenues from completion in July 2019.
StatPro will take on the employees of ECPI ESG research and
index Unit in Milan, where they will be integrated with StatPro
Italia's existing operations.
Michele Calcaterra, Director, ECPI commented:
"We are delighted to be joining StatPro at this exciting stage
in our evolution. The combination of our expertise in the field of
ESG research and index development, combined with StatPro's
expertise in analytics and its broader distribution capability,
will allow us to grow our business unit at an even faster
rate."
Justin Wheatley, CEO, commented:
"This earnings enhancing acquisition strengthens our Index and
Benchmarks offering by Source: StatPro, and provides a
comprehensive ESG research and rating capability across our entire
data and analytics division.
"The ESG research team is highly regarded and they will continue
to develop the sustainable investment solutions that they have been
championing for many years."
The information communicated within this announcement is deemed
to constitute inside information as stipulated under the Market
Abuse Regulations (EU) No. 596/2014. Upon the publication of this
announcement, this information is considered to be in the public
domain.
Enquiries:
StatPro Group plc
Justin Wheatley, Chief Executive +44 (0) 20 8410 9876
Andrew Fabian, Finance Director
Panmure Gordon - Nomad and Broker
Corporate Finance - Freddy Crossley
/ Fabien Holler +44 (0) 20 7886 2500
Corporate Broking -James Stearns
Instinctif Partners
Adrian Duffield/Kay Larsen/Chantal
Woolcock +44 (0) 20 7457 2020
About StatPro
StatPro Group (www.statpro.com) provides cloud-based portfolio
analytics, asset data services and data management tools for the
global asset management industry and asset management service
providers.
The Group has 10 offices in Europe, North America, South Africa
and Australia, servicing around 500 clients in 40 countries. It is
organised into three divisions: Revolution, Source: StatPro and
Infovest.
Revolution is a global provider of award-winning portfolio
analytics solutions. The cloud-based platform offers vital analysis
of portfolio performance, attribution, risk and compliance.
Revolution helps clients reduce costs, improve client communication
and control investment decisions.
Source: StatPro is a global market data business and provides
Data-as-a-Service to Revolution to enable analytics. The division's
integrated and global data coverage includes millions of securities
covering the full range of financial instruments and
benchmarks.
Infovest, supplies data management solutions for the global
asset management market, including data warehouse technology, ETL,
compliance and reporting tools as well as portfolio management
solutions.
StatPro Group plc shares are listed on AIM.
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END
ACQGMGMVNMRGLZM
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