By Claire Barker ‑ August 30, 2017
Leonard Green & Partners has reached an agreement to acquire CPA Global from its current shareholders Cinven.
August 30, 2017 – JERSEY. Leonard Green & Partners, L.P. (“LGP”), a leading US buyout firm, has reached an agreement to acquire CPA Global from its current shareholders Cinven.
CPA Global is the world’s leading intellectual property (IP) management and technology company, trusted by many of the most respected corporations and law firms across the globe. Founded in Jersey, Channel Islands, in 1969, we are today a truly global organisation, serving customers’ needs in 200 jurisdictions through our own offices and an extensive agent network. Our dynamic, integrated platform of IP software and technology-enabled solutions, manages the valuable ideas of the most innovative companies in the world. In an industry experiencing an ever-increasing pace of change, we are at the forefront, helping our customers to streamline processes, connect disparate IP teams, technologies and processes, and deliver better business value.
“CPA Global is the leader in the registration, protection and administration of intellectual property around the world. CPA Global's software and technology-enabled product suite is unique to the industry and helps drive efficiency and innovation for its customers," said Usama Cortas, Partner at LGP. “The Company has established itself as the global leader in helping customers bring their new and valuable ideas to life. We are thrilled to be partnering with Simon Webster and the rest of the CPA Global management team to support their continued success.”
“We are delighted to be embarking on our next phase of growth with LGP alongside us” said Simon Webster, Chief Executive Officer at CPA Global. “Their investment validates our growth strategy and underpins our commitment to our customers to offer the best software and solutions in the IP industry. We are very grateful to Cinven for supporting our company’s growth over the past five years. We have enjoyed a strong partnership and as a result, we find ourselves superbly positioned to lead the transformation of the IP industry and deliver huge value to our customers.”
Anthony Cardona, Principal, Cinven, added: “Cinven and CPA Global’s entrepreneurial management team have led CPA Global’s transition to a technology-led business by investing in the company’s software suite and technology platform, and extending into other parts of the IP process such as patent filing and patent data & analytics. We wish the company and its management team, led by Simon Webster, success in their next stage of growth.”
The completion of the sale of CPA Global is subject to customary regulatory approval. LGP was advised by Latham & Watkins (legal), KPMG LLP (financial and tax) and Marsh (insurance). Financing was provided by Jefferies, Nomura and Goldman Sachs Mezzanine Fund. Cinven was advised by Goldman Sachs (M&A), J.P. Morgan (M&A), Freshfields (legal), Boston Consulting Group (commercial), Ernst & Young (financial), BDO (tax)., while DC Advisory is advising management on the deal.
About CPA Global
CPA Global is the world’s leading IP management and technology company. We offer customers The IP Platform: delivering integrated Innovation and IP Portfolio software, services and insights across the entire Idea Lifecycle, supporting customers every step of the way to realise the value of their ideas. IP One Data is at the heart of The IP Platform – empowering our customers with comprehensive, verified and reliable data. We are trusted by many of the world’s leading corporations and law firms, and backed by a global team of more than 2,000 passionate and visionary people. For more information, please visit cpaglobal.com.
LGP is a leading private equity investment firm founded in 1989 and based in Los Angeles. The firm partners with experienced management teams and often with founders to invest in market-leading companies. Since inception, LGP has invested in over 80 companies in the form of traditional buyouts, going-private transactions, recapitalisations, growth equity, and selective public equity and debt positions. The firm primarily focuses on companies providing services, including consumer, business, and healthcare services, as well as retail. The firm's most recent fund, Green Equity Investors VII, L.P., closed in 2016 with $9.6 billion of committed capital. For more information, please visit www.leonardgreen.com.
Cinven is a leading international private equity firm focused on building world-class European and global companies. Its funds invest in six key sectors: Business Services, Consumer, Financial Services, Healthcare, Industrials, and Technology, Media and Telecommunications (TMT). Cinven funds acquire companies that are based predominantly in Europe, or have / will have significant European operations, which require an equity investment of €200 million or more. Cinven has offices in Guernsey, London, Paris, Frankfurt, Milan, Madrid, Luxembourg, Hong Kong and New York. Since 1988, Cinven funds have invested in 120 companies worth around €95 billion and realised proceeds of around €32 billion. Today Cinven has €14.5 billion in assets under management. Cinven takes a responsible approach towards its portfolio companies, their employees, suppliers, local communities, the environment and society. For more information, please visit cinven.com
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