A data analytics group headquartered in London has split into three divisions following a private equity deal.
Listed company GlobalData, which provides data, expert analysis and solutions to companies in the world’s largest industries, has reorganised to operate across three customer-focused divisions – healthcare, consumer and technology.
Private equity firm Inflexion has acquired a 40% stake in its healthcare business for £434 million, valuing that segment at £1.1 billion. At £50m, it represents 36% of GlobalData Group’s 12-month revenue, reported in June.
The deal represents a 22x multiple of 12-month EBITDA (also reported in June) for the division and compares to a market capitalisation of £1.35bn for the entire GlobalData Group at the close of market yesterday.
The transaction is expected to close during Q2 2024.
GlobalData Healthcare’s subscription service offers a solution for over 2,000 global customers across large global pharma, pharma & biotech, pharma suppliers, professional services and medical devices manufacturers.
The proprietary Intelligence Centre platform that the business has developed provides actionable insights into trends related to drugs, trials and therapeutic reports, supporting research and development of pharmaceuticals, and ultimately informing business intelligence decisions.
GlobalData Group revenues have grown by more than 50% over the last five years, from £178m in 2019 to over £270m expected in 2023. The group now serves more than 4,700 customers.
Mike Danson, CEO of GlobalData, said: “This is a significant milestone in GlobalData’s evolution, and we are delighted to welcome Inflexion as a shareholder in our Healthcare division.
“The investment highlights the significant value in our unique data platform and gives us the flexibility to launch a more ambitious approach to growth investment across our portfolio.
“We believe that we can create substantial value for all shareholders and accelerate GlobalData’s profitable growth over the coming years.”
David Whileman, partner and head of partnership capital at Inflexion, said: “GlobalData is renowned for creating data and analytical insight for its clients across many verticals. We are really excited about our partnership with them to carve out and expand an independent Healthcare division.
“This is a tried and tested strategy we’ve successfully pursued many times and another example of Inflexion being the leading minority investment partner.”