NEW YORK & LONDON--(BUSINESS WIRE)--Permira, the global private equity firm, today announced that funds advised by Permira have agreed to make a strategic investment in Reorg (“Reorg” or the “Company”), a leading global provider of data, analytics and intelligence for the credit markets. As part of the transaction, Warburg Pincus will sell its majority shareholding in Reorg to Permira, and the Reorg team will retain a significant ownership interest. Financial terms of the transaction were not disclosed.
Founded in 2013, Reorg combines powerful technology along with financial and legal analysis and reporting to provide a granular and holistic view of hard-to-find credit information. The Company’s analytics, sourced from a variety of public and proprietary data sources, and breaking news updates on sub-investment grade credit are a mission-critical solution that drives significant efficiencies for customers and democratizes data access to complex and opaque information. Reorg has experienced rapid growth over the last decade and today serves more than 25,000 professionals across the world’s leading financial institutions, law firms and professional services businesses.
“Through the hard work and innovation of Reorg’s global team, we’ve grown from distressed debt and bankruptcy expertise into covering all aspects of the global credit markets, while maintaining our standards of best-in-class coverage.” said Kent Collier, Reorg’s founder and Chief Executive Officer. “I couldn’t be more appreciative of the Reorg team and the support of Warburg Pincus the last four years. We are relentless in solving our customers’ most pressing problems and, with the investment from Permira, will push forward in finding ever smarter solutions in the years ahead.”
Daniel Brenhouse and Andrew Young, Partners at Permira, commented: “Kent and his team have built an impressive data-driven platform that provides deep insight and powerful analysis of the complex and often opaque credit markets. As we know first-hand through our experience in the sector with Permira Credit, the value Reorg offers financial and legal professionals is incomparable – especially in today’s dynamic market – and there are vast opportunities for further growth. We look forward to leveraging our international network and expertise working with leading tech, tech-enabled and subscription-based businesses to help scale the platform.”
“It has been a privilege working with Reorg over the past four years and experiencing first-hand their impressive rise to a best-in-class resource for business information,” said Chandler Reedy, Head of Strategic Investments at Warburg Pincus. “We enjoyed a strong partnership with Kent and the talented Reorg team and look forward to watching their continued growth and success,” added Cary Davis and Alex Stratoudakis, Managing Directors, Warburg Pincus.
The deal, which is subject to customary regulatory approvals, is expected to close in the third quarter of 2022.
Evercore served as financial advisor to Reorg and Kirkland & Ellis LLP is acting as legal counsel. UBS Investment Bank and Morgan Stanley & Co. LLC served as financial advisors to Permira and Weil, Gotshal & Manges LLP is acting as legal counsel.
Permira is a global investment firm that backs successful businesses with growth ambitions. Founded in 1985, the firm advises funds with total assets under management of €60bn+ and makes long-term majority and minority investments across two core asset classes, private equity and credit. The Permira private equity funds have made approximately 300 private equity investments in four key sectors: Technology, Consumer, Healthcare and Services.
The Permira funds have an extensive track record in technology investing, and have backed and partnered to scale some of the largest and fastest growing product-obsessed technology and tech-enabled services companies globally, including Alter Domus, Axiom, Carta, Clearwater Analytics, Klarna, Kroll, Mimecast, LegalZoom, Seismic, Relativity, as well as the recently announced investment in Zendesk.
Founded in 2013, Reorg has fundamentally changed the way financial and legal professionals access complex and opaque business information. Reorg’s unique editorial approach combines reporting with financial and legal analysis to provide a holistic view of topical situations and delivers that view in real time through our proprietary platform, which is powered by machine learning and natural language processing.
Today, with offices on three continents, Reorg serves more than 25,000 professionals across the world's leading hedge funds, asset managers, investment banks, law firms, professional services, advisors and corporations so they can make better business, investment and advisory decisions. To learn more, visit Reorg.com.
About Warburg Pincus
Warburg Pincus LLC is a leading global growth investor. The firm has more than $85 billion in assets under management. The firm’s active portfolio of more than 250 companies is highly diversified by stage, sector, and geography. Warburg Pincus is an experienced partner to management teams seeking to build durable companies with sustainable value. Founded in 1966, Warburg Pincus has raised 21 private equity and 2 real estate funds, which have invested more than $106 billion in over 1,000 companies in more than 40 countries. The firm is headquartered in New York with offices in Amsterdam, Beijing, Berlin, Hong Kong, Houston, London, Luxembourg, Mumbai, Mauritius, San Francisco, São Paulo, Shanghai, and Singapore. For more information, please visit www.warburgpincus.com. Follow us on LinkedIn.