Investcorp books 3x on financial services exit

The firm has sold its 40% stake in TDX Group for £200m.

Bahrain-listed Investcorp has sold its stake in UK debt management firm TDX Group to Equifax Inc, a global information solutions provider, for £200 million (€240 million, $327 million).

It is understood Investcorp netted a 3x return on the sale.

TDX, which was established in 2004 in Nottingham, provides businesses with technology, data and advisory solutions to improve debt liquidation and the fair treatment of consumers in financial arrears. TDX employs approximately 345 people globally, according to a statement. Investcorp acquired a 40 percent stake in the business in 2008 using its Investcorp Technology Partners III, a $500 million 2008-vintage fund.

“With our support, TDX has been able to realise its potential and has evolved from being a UK-focused operation to one with a growing international footprint,” Gilbert Kamieniecky, a principal at Investcorp, said in the statement.

The transaction is Investcorp’s third exit of its technology portfolio in twelve months following its agreement to sell the Skrill Group, a European online payment systems business, to CVC Capital and the flotation of Fleetmatics, the Irish-based global provider of fleet management solutions for commercial fleet vehicles, on the New York Stock Exchange.

Investcorp received financial advice from Canaccord Genuity and legal advice from King & Wood Mallesons.