CPA to be sold to Cinven

CPA Global, the Jersey based firm which began life in 1969 as an intellectual property management service provider, but which developed itself into the world's leading global provider in its field, with 1,500 employees, is to be sold. Current owner, Intermediate Capital Group, has agreed a sale to Cinven, a leading private equity firm, in a deal that is reported to value CPA at £950 million.

ICG invested in Jersey-based CPA only 2 years ago, taking a significant minority stake in a deal which apparently valued the business at £440 million pounds at the time.  To have more than doubled the value of the company during a period of unprecedented market turmoil is a phenomenal performance by any standards.  The growth has been driven by the increasing trend for companies to outsource protection of their intellectual property and related litigation to firms like CPA. CPA's last set of reported accounts showed an EBITDA of £77m.

Cinven, who are believed to have fought off rival BC Partners to secure the deal, will take a majority stake in the business, buying a portion of the company from CPA's other private shareholders.