GTCR and Cannondale Investments Announce the Acquisition of OneSource, Inc.
October 2, 2012
Information services acquisition is initial platform for experienced leadership team.
GTCR, a leading private equity firm, today announced it has acquired OneSource Information Services, Inc. (“OneSource”), a subsidiary of Infogroup, Inc. (“Infogroup”). This acquisition will be completed through GTCR’s previously established partnership with Cannondale Investments (“Cannondale”) and Joseph Ripp. Under Mr. Ripp’s leadership, OneSource plans to further enhance its business intelligence and sales enablement product offerings in order to continue to provide value-added information and services to its customers.
GTCR and Mr. Ripp have worked together since 2009 on several potential investment opportunities within information services. In 2011, GTCR formalized its partnership with Mr. Ripp and started Cannondale. At that time, Mr. Ripp assembled the team of Jonathan Flatow, Robert Bies and Dr. Charles Stryker to complement his leadership, creating an experienced team capable of identifying and executing on transformational opportunities within the information services industry.
“We are extremely excited about the opportunity to partner with Cannondale and the OneSource team,” said Philip A. Canfield, managing director at GTCR. “We believe this leadership team will set the new standard for sales enablement and business intelligence solutions for business-to-business industries.”
“We look forward to increasing the collaboration with OneSource’s clients in an effort to ensure we continue to provide our customers with the highest value products and information possible,” noted Mr. Ripp, chairman and CEO of Cannondale Investments. “OneSource is an excellent organization with an incredibly talented and dedicated team and we look forward to working with and investing in the organization and its employees.”
GTCR’s investment in OneSource will be made from GTCR Fund X, a private equity fund with $3.25 billion of committed capital.
Kirkland & Ellis LLP served as legal counsel, and PriceWaterhouseCoopers served as accounting advisor to GTCR. The Jordan, Edmiston Group, Inc. of New York, New York, represented Infogroup in this transaction and acted as its exclusive financial advisor.
Founded in 1980, GTCR is a leading private equity firm focused on investing in growth companies in the Information Services & Technology, Financial Services & Technology and Healthcare industries. The Chicago-based firm pioneered the “Leaders Strategy”—finding and partnering with management leaders as the critical first step in identifying, acquiring and building market-leading companies through acquisitions and organic growth. Since its inception, GTCR has invested more than $10.0 billion in over 200 companies. For more information, please visit www.gtcr.com.
About OneSource Information Systems
OneSource provides online business information and sales intelligence solutions. The company has two core products, which are Business Browser and iSell. On top of its core information solutions, it provides application integration, data analysis, and research and business consulting services. The company serves technology, software, business and financial services, consulting and recruitment sectors. OneSource was formerly known as Lotus OneSource and changed its name in 1993. The company was founded in 1986 and is based in Concord, Massachusetts, with additional offices in Austin, Texas; London, United Kingdom; Sydney, Australia; Wan Chai, Hong Kong; Singapore; and Gurgaon, India. For more information, please visit www.onesource.com.