Global market research company Kantar Group, a portfolio company of Bain Capital, has announced the proposed sale of Kantar Media to H.I.G. Capital, a global alternative investment firm with $67 billion of capital under management.
Kantar Media, which operates in more than 60 markets, has a broad portfolio of solutions that spans audience measurement and data analytics as well as media planning and validation.
The transaction's purchase price of about US$1 billion is anticipated to be primarily paid in cash, along with certain non-cash consideration, including separation-related investments by H.I.G. Capital, and an earn-out.
Subject to legal and regulatory requirements and completion of information and consultation processes with employee representatives, the proposed transaction is expected to close later this year.
Kantar Media CEO Patrick Béhar will continue to lead the business.
Béhar said this transaction would give the company the resources and support to further accelerate its growth trajectory and strengthen the position as the global leader in media measurement and analytics.
"With H.I.G.'s expertise in scaling businesses and driving performance, we are more confident than ever in our ability to deliver innovative, data-driven solutions that meet the evolving needs of our growing client base all over the globe," he said.
Kantar's chief executive Chris Jansen said the company set up Kantar Media to be operationally independent in 2023 to allow it to consolidate its global leadership position in audience measurement.
"Today's proposed partnership announcement with H.I.G. Capital positions Kantar Media to continue its investments in technological and geographical leadership and we wish Patrick and his team the very best for the future," he said.
"Following the proposed sale, Kantar will be even more focused on helping both global and local brands to grow through a unique combination of IP, data assets, and increasing the rapid deployment of AI."
"Today is a fantastic moment for Kantar Media, its teams, its partners and its customers as we embark with H.I.G onto the next stage of our transformation".
H.I.G Capital MD Nishant Nayyar said Kantar Media has a long-standing reputation for delivering essential data and trusted insights to the global media industry.
"We are confident that as an independent business under the leadership of Patrick, the company will continue to thrive and lead the way in media measurement and analytics innovation," he said.
J.P. Morgan and Jefferies acted as financial advisors to Kantar Group on the transaction.
Morgan Stanley & Co International acted as lead financial advisor and ING acted as financial advisor to H.I.G. Capital.