LONDON: StatPro Group plc, the AIM listed provider of cloud-based portfolio analysis and asset pricing services for the global asset management industry, has acquired the environmental, social and governance (ESG) research and index business unit from ECPI Group Srl for a total estimated consideration of €2.9 million in cash.
ECPI has annualised recurring revenues of approximately €0.9 million and generated €0.3 million EBITDA in 2018. [the_ad id=”31605″]ECPI provides ESG indices and benchmarks and related services including constructing client specific benchmarks. It carries out ESG research and produces ratings on an active universe of approximately 3,500 companies (total universe of 4,500+) globally and uses these ratings to qualify companies for inclusion into a series of ESG investable indices, or to provide portfolio screening services.
StatPro expects annual revenue levels for the acquired service to remain broadly similar for 2019 and will incorporate ECPI revenues from completion in July 2019.
StatPro will take on the employees of ECPI ESG research and index Unit in Milan, where they will be integrated with StatPro Italia’s existing operations.
Michele Calcaterra, Director, ECPI commented: “We are delighted to be joining StatPro at this exciting stage in our evolution. The combination of our expertise in the field of ESG research and index development, combined with StatPro’s expertise in analytics and its broader distribution capability, will allow us to grow our business unit at an even faster rate.”
Justin Wheatley, CEO, commented: “This earnings enhancing acquisition strengthens our Index and Benchmarks offering by Source: StatPro, and provides a comprehensive ESG research and rating capability across our entire data and analytics division.
“The ESG research team is highly regarded and they will continue to develop the sustainable investment solutions that they have been championing for many years.”