UK private equity firm CVC acquires Italian information group Cerved

UK-based private equity major CVC Capital Partners Ltd said it had agreed to buy Italian business information provider Cerved Group SpA for EUR1.13bn (USD1.5bn).

The vendors are US buyout firm Bain Capital LLC and Italy’s Clessidra SGR SpA. The buyer said that Credit Suisse AG (NYSE:CRP), Deutsche Bank AG (FRA:DBK) and HSBC (LON:HSBA) would provide committed financing for the deal.

The target offers credit and business information to over 30,000 clients, including 90% of Italian banks. It generated sales of EUR292m in 2012 with a staff of 1,020.

The deal is subject to customary regulatory approvals.

CVC took counsel from Deutsche Bank, Lazard Ltd (NYSE:LAZ), Eidos Partners srl, Chiomenti Studio Legale, Kirkland & Ellis LLP, Bain and Company Inc, Ernst & Young LLP and Studio Tributario Associato Facchini Rossi Scarioni.

Bain Capital and Clessidra were advised by HSBC, Banca Intesa SpA, Gattai Minoli & Partners, Kirkland & Ellis, PricewaterhouseCoopers LLP, McKinsey & Company Inc, Capital Market Initiatives, Studio Pirola Pennuto Zei & Associati and Vitali Romagnoli Piccardi e Associati.