New Private Equity Firm Takes a Lead Role in IRI

Vestar Capital Partners is to lead a new round of investment in consumer data giant IRI - amount undisclosed. Once the transaction closes, Vestar will jointly govern the firm alongside current owner New Mountain Capital.

IRI provides big data, predictive analytics and forward-looking insights that help CPG companies, OTC health care organizations, retailers, financial services and media companies grow their businesses. In the summer, unconfirmed reports suggested that Swiss investment firm Partners Group Holding AG was 'nearing a deal' to acquire IRI from New Mountain for something over $2 billion: but the new investment puts an end to the rumours. Under its terms, Jeffrey Ansell (pictured), a Vestar Senior Advisor and IRI Board member since 2011, will serve as Chairman of IRI. In a statement, the firms explained that New Mountain and other existing investors will retain a 'meaningful investment' in IRI.

Andrew Appel, CEO of IRI, said the new relationship with Vestar will further strengthen IRI's ability to provide 'superior client service', given the investor's experience in consumer goods, data and information technology. Commenting on the deal, Ansell said: 'The IRI management team, led by CEO Andrew Appel, has a proven track record of partnering with clients to leverage data, technology, and cutting-edge ideas to help achieve better business results. Working with Andrew and this talented management team, as well as with New Mountain and Vestar, we can continue to realize the strong client impact and value creation potential of this business'.

Asked by DRNO whether the new investor has bought a majority stake, the firms said: 'New Mountain Capital, other existing IRI shareholders, and management will retain a significant equity stake in the business. Vestar and New Mountain will have joint control and equal governance of IRI'.

Web site: www.iriworldwide.com .