Quayle Munro is pleased to announce that it has advised Warburg Pincus LLC (“Warburg Pincus”), a global private equity firm focused on growth investing, on its acquisition of the Calgary-based unit of ITG Investment Research (the “energy research group”) for $120.5 million in cash. Effective as of the closing of the transaction on December 22, 2015, the energy research group now operates under the new name RS Energy Group (“RSEG”).
ITG is an independent broker and financial technology provider that partners with global portfolio managers and traders to provide unique data-driven insights throughout the investment process. RSEG has a dedicated team of geological and petroleum engineers and financial analysts covering more than 150 companies operating in every key North American and many international energy plays. The transaction will include all of the 44 Calgary-based employees as well as the associated oil and gas sales team. Warburg Pincus intends to invest in the business moving forward, partnering with the company to enhance its product offering and client service and to continue to grow the investment research business for its institutional and oil and gas client base.
As part of this transaction, ITG will continue to provide the energy research to its institutional clients, serving as the exclusive sales partner for institutional investors. The transaction does not involve ITG’s non-energy investment research offerings.
Cary J. Davis, Managing Director, Technology, Media and Telecommunications, Warburg Pincus, stated, “We look forward to partnering with management in this next chapter for the business. We are excited about building on the energy research team’s success with its differentiated product offerings and utilizing our information services experience to accelerate its growth plans, to the benefit of its institutional and oil and gas clients.”
The transaction reinforces Quayle Munro’s credentials as a leading provider of independent advice for the data, analytics and insight sectors across the global financial and energy verticals.