Hg has backed UK-based investment ratings and research agency FE through its lower mid-market Mercury 2 vehicle.
FE’s data and analytics offering focuses on the UK and Australian retail investment funds markets. The business has offices in the UK, Czech Republic, Hong Kong, Singapore, Australia, India and South Africa.
Hg partner Sebastien Briens said: “We have been following FE for a number of years, and have been impressed by the strength and depth of its data, products, team and vision. We are very pleased to partner with [founders] Michael, Craig and [CEO] Neil in the next stage of growth for the business.”
FE’s chief executive Neil Bradford added: “Hg’s track record and experience in our sector means they are the perfect partner to continue FE’s growth strategy and international expansion ambitions.”
FE was advised by Portico Capital, Travers Smith and EY. Hg turned to Cardean Bell, Linklaters and Deloitte.
Last week the Mercury 2 fund acquired MediFox, a provider of software to outpatient and inpatient care providers and therapy practices, from ECM Equity Capital Management. Ardian Private Debt and EQT Credit provided a senior secured debt to support the deal.
Mecury 2 closed early last year on £575m, exceeding its target of £450m.