(MENAFN- PR Newswire)
LONDON, Nov. 24, 2022 /PRNewswire/ --
Euromoney, the parent company of Fastmarkets, today announced an acquisition by a consortium owned by funds managed by Astorg and Epiris of Euromoney. Read the Euromoney press release here .
As a part of this transaction, it is intended that Fastmarkets will become a standalone entity, owned and controlled by Astorg, a global private equity firm with over €18 billion of assets under management.
Fastmarkets is the most trusted price reporting agency (PRA) in the agriculture, forest products, metals and mining, and new generation energy markets. The acquisition will accelerate the execution of Fastmarkets' strategy of providing critical price data, news and market intelligence, forecasts, and events in the commodity markets it serves. This data becomes increasingly vital as markets are impacted by inflation and recession, energy crises, severe weather and geopolitical tensions – all while pursuing sustainability goals.
The current economic and market climate demands precise data, a clear understanding of market events and their impact, and forecasts that give clarity for the road ahead. The acquisition strengthens and accelerates Fastmarkets' ability to lead the market and deliver this critical value to its customers.
Raju Daswani, CEO of Fastmarkets, added: 'Fastmarkets has delivered rapid growth in recent years and secured its position as the most trusted cross-commodity price reporting agency (PRA) in the agriculture, forest products, metals and mining, and new generation energy markets. We will continue to focus on providing customers with benchmark prices, insights and analysis. We are excited by the opportunities for further growth, leveraging Astorg's proven track record of successfully creating value.'
Fastmarkets is the industry-leading price reporting agency (PRA) for global commodities, providing price data, news, analytics and events for the agriculture, forest products, metals and mining, and new generation energy markets. Fastmarkets' data is critical for customers seeking to understand and predict dynamic, sometimes opaque markets, enabling trading and risk management. Fastmarkets is a global business with a 130-year history built on trust and deep market knowledge. Its team of more than 450 people are located in global locations including London, Helsinki, Boston, New York, Shanghai, Beijing, Singapore, Brussels and São Paulo. Fastmarkets is owned and controlled by Astorg.
Astorg is a global private equity firm with over €18 billion of assets under management. Astorg works with entrepreneurs and management teams to acquire market leading global companies headquartered in Europe or the US, providing them with the strategic guidance, governance and capital they need to achieve their growth goals. Enjoying a distinct entrepreneurial culture, a long-term shareholder perspective and a lean decision-making body, Astorg has valuable industry expertise in healthcare, software, technology, business services and technology-based industrial companies. Astorg has offices in London, Paris, New York, Frankfurt, Milan and Luxembourg.