US buyout firm to buy CPA Global for 2.4 billion pounds

29 Aug, 2017 8:29 am

CALIFORNIA (Reuters) – US buyout firm Leonard Green & Partner has agreed to buy intellectual property services provider CPA Global for 2.4 billion pounds ($3.10 billion) including debt, a source familiar with the matter said on Tuesday.

An announcement on the transaction is expected on Tuesday, the source also added.

Reuters reported in July that CPA’s owner Cinven had decided to sell the business, hiring Goldman Sachs and JP Morgan as advisers and the business could fetch up to 2 billion pounds.

Cinven acquired CPA Global in 2012 from Intermediate Capital Group and the founder shareholders for around 950 million pounds, backed with 555 million pounds of debt financing.

Cinven declined to comment on the deal while Leonard Green & Partner and CPA Global and were not immediately available for comment outside regular business hours.

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