New Mountain Capital Acquires Majority Stake Of SNL Financial
July 27, 2011 at 5:58 AM (PT)
NEW MOUNTAIN CAPITAL has acquired a majority stake in SNL FINANCIAL, a provider of data and information on media, as well as other companies. THE WALL STREET JOURNAL reports, "Terms of the transaction between NEW YORK-based NEW MOUNTAIN, a private-equity firm with about $9 billion in assets, and SNL, based in CHARLOTTESVILLE, VA., weren't disclosed in the statement that announced the deal."
NEW MOUNTAIN Managing Dir. PETE MASUCCI said in a statement that SNL is a "top-tier information franchise that serves as an excellent foundation for continued growth and success."
SNL Founder REID NAGLE added, "We believe we have found the ideal partner in NEW MOUNTAIN to help us achieve SNL's next phase of growth."