Private equity firm Cinven has sold intellectual property management and technology company CPA Global to US buyout firm Leonard Green & Partners.
CPA Global provides IP software, services and data and analytics for corporates and law firms. The business manages over two million patents for more than 10,000 customers across the globe and has 23 offices worldwide. It operates from its headquarters in Jersey, Channel Islands.
Cinven acquired CPA Global in 2012 as part of its strategy of investing in world-class European-headquartered companies where it can support global growth using its sector expertise and Asian portfolio capabilities.
Under Cinven's ownership, CPA Global has achieved strong growth, accelerated its global expansion, particularly in China and South Korea, made six bolt-on acquisitions in the IP management sector and led a successful transformation into a technology-led business.
Stuart McAlpine, managing partner at Cinven, said:"Cinven acquired CPA Global because we saw an exceptional company in a highly attractive market, with an opportunity to transform the business from a service provider into a technology-led business, as Cinven has done with other successful investments, such as Amadeus. During our ownership, Cinven and CPA Global's management team have driven this transformation as well as consolidated the sector through a buy-and-build strategy. CPA Global is now in a strong position to continue taking advantage of the market opportunity."
Simon Webster, Chief Executive Officer of CPA Global, added: "Cinven has provided huge support to CPA Global over the past five years. Our investment in technology has enabled us to provide an unrivalled integrated technology platform for end-to-end IP management for both corporates and law firms. In addition, we have successfully built our proposition to span the entire IP lifecycle, providing products and services to customers to support innovation, ensure patent protection, and enable companies to commercialise their IP."