Simply three years after its profitable IPO, shareholders in Consider could also be exploring a path to take the French firm non-public once more.
Reuters studies that buyers together with the group’s CEO & Founder Denis Ladegaillerie (pictured above) and U.S. funding agency TCV have been feeling out curiosity in a non-public fairness deal to take Consider non-public once more. Reuters supply studies that shareholders are working with advisors—confirmed by two folks.
In response to the report, Swedish non-public fairness group EQT is amongst people who held talks with the shareholders about taking Consider non-public. The Paris-based firm presently has a market cap of round $1.04 million (€948 million). Talks with the Swedish fairness group resulted in December 2023, whereas a second supply confirms Permira, a British non-public fairness group, was additionally concerned in discussions.
Proper now, it’s unclear if the deal will materialize as takeover talks are nonetheless ongoing. Neither TCV nor Ladegaillerie responded to requests for remark from Reuters as they put the story collectively. Ladegaillerie has round 12.4% stake within the firm, with TCV controlling 41.1%. Information a few potential deal to take Consider non-public have despatched the inventory’s value hovering.
The inventory is presently buying and selling effectively under its 2021 IPO value of 17.30 euros per share. As of the time of writing, Consider SA was buying and selling at 10.10 euros per share, up almost 12.6% in comparison with the worth when the buying and selling day began.
Consider is without doubt one of the world’s main digital music firms, serving to artists and labels construct their audiences and careers all through all levels of growth. It has workplaces in native markets the world over with internet gross sales distributed as follows: France (16.9%), Germany (14.9%), Europe (27.6%), Asia/Oceania/Africa (26.2%) and the Americas (14.4%). The corporate has labored arduous to department out in Southeast Asia and Australia within the final two years, contributing to the huge progress from the area.