Defaqto swaps private equity owner

Source: Defaqto

Defaqto Group, a benchmarking company that provides a number of ratings and data analysis services to financial institutions, has swapped its private equity owners after Foresight Group sold its share in the firm to the management, backed by a majority investment of £24.25m from UK PE firm Synova Capital.

Based in Haddenham, UK, Defaqto provides data and ratings services to most UK retail financial product providers, asset managers, insurers, comparison websites and financial advisers.

Gross proceeds of £27.6m have been received by Defaqto Group's shareholders following Foresight’s exit and the other investor FF&P Private Equity.

Synova partners’, Philip Shapiro and Tim Ashlin, will both now serve as directors of Defaqto, alongside the existing management buyout team, with the aim of doubling the size of the company over the next few years.

Commenting on the transaction, Zahid Bilgrami, Defaqto’s chief executive, said: “We are delighted to be supported in this next phase of growth by Synova. I believe there are a number of exciting opportunities ahead, including the expansion of the products and services that we offer to our customers on top of our unique product intelligence.” 

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