Ipsos in early sale talks with large-cap PEs
Ipsos SA (EPA:IPS), a French market research company, is in sale talks with large-cap sponsors including Blackstone, BC Partners and KKR, two sources briefed on the situation said.
Preliminary management presentations with potential buyers were held yesterday (July 7), the sources said.
The sale process is at an early stage with first round bids expected to be submitted at the end of July, one of the sources briefed and a person briefed said.
Ipsos' shares were trading at EUR 26.06 today (8 July), giving the company a EUR 1.18bn market capitalization.
Didier Truchot, the 69-year-old co-founder and president of Ipsos, controls 50.3% of the company directly and indirectly, according to previous reports.
Barber Hauler Capital Advisers is advising on the sell-side, the two sources said. The M&A boutique was co-founded by two former senior UBS investment bankers Dominique Bazy and Pascal Hervé.
Ipsos was founded in 1975 by Didier Truchot and Jean-Marc Lech. On 3 June 2015, Didier Truchot acquired, through his holding vehicle DT&Partners, the 26.16% stake held in Ipsos by Jean-Marc Lech's heirs following Jean-Marc Lech's death on 2 December 2014.
For 1Q16, Ipsos recorded EUR 386.9m in revenues, up 1.9% compared with the same period in 2015. The company generated EUR 1.8bn revenue and EUR 93m of net profit in 2015.
Ipsos conducts market research. It uses global surveys and polls to explore market potential, test products and advertising mediums, study audiences and audience perception, and measure public opinion trends. The company offers advertising, marketing, media, public opinion, and social research.
Ipsos operates in Europe, Latin America, Asia/Pacific Rim, the United States, and the Middle East.
Blackstone, BC Partners and KKR declined to comment. Ipsos and Barber Hauler did not respond to an email seeking comment.