Quayle Munro is pleased to announce that it has advised the shareholders of Power Advocate, Inc. (“PowerAdvocate”) on the sale to Verisk Analytics, Inc. (Nasdaq: VRSK; “Verisk”) for a purchase price of $200 million, and an earnout of up to $80 million.
PowerAdvocate is the leading provider of spend intelligence, cost intelligence and supply chain solutions to the energy industry. Developed to support customers’ informed decision making, its proprietary solutions enable energy executives to restructure costs and improve company performance. PowerAdvocate supports more than 80 energy companies primarily in the United States but increasingly internationally. Founded in 1999, PowerAdvocate is headquartered in Boston and has an additional office in San Francisco.
PowerAdvocate’s proprietary, one-of-a-kind spend and cost data is curated from millions of transactions across thousands of services, materials, and equipment categories in the energy industry. As a result, PowerAdvocate uniquely supports enterprise performance by providing insight into its customers’ cost savings opportunities. Through its proprietary data set encompassing $2.7 trillion of spending data, and machine-learned methods, the company brings transparency to otherwise opaque markets and ensures that capital can be deployed in an efficient manner.
Dan Sullivan, President and CEO of PowerAdvocate, said: “We’re very excited to join Verisk, as this will accelerate our growing business by providing greater access to global markets and Verisk’s existing international customers. Our unique value proposition will be enhanced through collaboration and leveraging synergies with other Verisk business units and their data & analytics solutions.”
Craig Muir, Managing Director at Quayle Munro, said: “PowerAdvocate is a unique combination of big data, artificial intelligence, machine learning and deep supply chain domain expertise. We are pleased to have had the opportunity to advise the shareholders on the sale. The transaction further demonstrates Quayle Munro’s ability to bring together expertise in supply chain data & analytics and SaaS technology to deliver value to our clients.”
This transaction adds to Quayle Munro’s extensive track record in global data, analytics and software M&A, with recently completed transactions involving EQT, Euromoney, FactSet, Five Arrows Principal Investments, HgCapital, Moody’s, RELX, S&P Global and Warburg Pincus.
For transaction enquiries please contact:
Tel: +44 (0)20 7907 4200
Tel: +44 (0)20 7907 4200
About Quayle Munro
Quayle Munro is an independent mergers and acquisitions advisory firm that has an extensive, global track record of working with a wide variety of companies underpinned by data & analytics, content, software and services. We advise on a full spectrum of corporate finance matters including mergers and acquisitions, debt and equity fundraisings, IPOs, public transactions, restructurings, and strategic and valuation advice. The company also provides growth capital on a selective basis. Quayle Munro is particularly adept at working with private-equity-owned and entrepreneurial-led businesses experiencing high growth. For more information please visit our website.