Beringea UK realizes investment in Third Bridge
July 18th 2017
Over Beringea’s four-and-a-half-year holding period, Third Bridge saw 6x revenue growth
(London, UK) Beringea, the growth capital investor, has realised its investment in portfolio company Third Bridge after a four-and-a-half year holding period. The sale was part of a transaction in which IK Investment Partners acquired a minority stake in the fast-growing primary research provider. Completion, which is subject to legal and regulatory approvals, is expected in July.
Third Bridge provides its clients with unique insights into companies and markets through access to industry experts and market research. It currently serves a client base of over 300 customers, including private equity funds, consulting firms, hedge funds and corporates. Third Bridge has a global footprint, with six offices covering America, Asia and Europe. Since inception in 2007, the Company has doubled its turnover every two years and now employs more than 550 people.
Beringea invested in Third Bridge in 2012, through its ProVen VCTs. Between 2012 and 2016 the company’s revenues grew from £8.7 million to $67.4 million, an increase of c. 6x. Over the four-and-a-half-year life of Beringea’s investment, the number of employees has grown from c. 100 to over 550.
Stuart Veale, Managing Partner of Beringea commented: “The calibre of the management team at Third Bridge is exceptional and, from the start of our relationship, inspired us with confidence that the company would be successful. The experience across the founding team, and those that have been appointed to senior roles over the years, has driven strong and consistent growth for Third Bridge. I’ve enjoyed my time working with the company and supporting this growth as a director immensely. This deal is an exciting step for the founders, and it also provides some great returns to our VCT investors. I look forward to seeing Third Bridge continue its success in the future.”
Emmanuel Tahar, CEO and co-founder of Third Bridge, said: “ We are grateful for Beringea’s support over the last four-and-a-half years as we continued to expand Third Bridge’s global footprint and develop our primary research offering. The new investment from IK will enable us to maintain this strong performance, and bring us closer to our vision of being the first port of call for investors seeking the best intelligence.”