Investcorp, a global provider and manager of alternative investment products, announced Thursday that, along with the founders of the TDX Group, it has agreed to sell TDX to Equifax Inc. for approximately $327 million. TDX is the United Kingdom's largest debt placement services and debt management platform company.
Founded in 2004 and headquartered in Nottingham, UK, TDX employs approximately 345 people globally. The company provides businesses with technology, data and advisory solutions to aid debt liquidation and the fair treatment of debtors.
The acquisition - specifically adding TDX's software, technology and various platforms - will not only allow Equifax to build within the collections space but also expand into other markets, Equifax officials said.
"Our customers are looking for end-to-end solutions that streamline their collections processes, as well as deeper insights and analytics, to optimize their efforts," said Paulino R. Barros, president of Equifax International. "The combination of our expertise in cutting-edge technology and global resources, the common customer relationships we have with TDX and the unparalleled collections expertise TDX brings, will drive significant revenue growth and move Equifax to the forefront of this growing industry worldwide."
The acquisition is expected to be non-dilutive in 2014 to Equifax adjusted earnings per share, excluding the impact of acquisition-related expenses. TDX's 2013 revenue was approximately $90 million.
Mark Sanders, CEO of TDX, said the acquisition is a positive for the company.
"Equifax and TDX have very complementary data assets, as well as a shared customer base of long-standing company relationships looking for improved collection services and capabilities," Sanders said. "We see significant opportunities to work together to deliver innovative, value-creating solutions to the market and the integration of the two companies' strengths will help us respond to a significant customer-driven opportunity, to use data, technology and insight to improve performance, compliance and to deliver improved customer and consumer experiences."
Investcorp owns SourceMedia, parent company of Collections & Credit Risk.