Investment analytics firm YCharts announced Friday it has been acquired by private equity firm LLR Partners in a recapitalization meant to pump new capital into the research platform.
The acquisition provides the funding to increase investment in product and sales and marketing, according to YChart President and CEO Sean Brown. “We are no longer constrained by our own cash flow,” he said. “We are now in a position — where it makes strategic and economic sense — to acquire compelling companies that complement our vision.”
Terms of the deal were not disclosed.
YCharts works with more than 6,000 clients, which consist of RIAs, broker-dealers and asset managers, to provide cloud-based data and analytics for equity, mutual funds and ETFs. The platform also provides portfolio construction, idea generation and market monitoring, according to its website.
Advisers pay $3600 a year for a standard package and $6,000 a year for premium services, according to YCharts’ website.
Previous investors in YCharts include Hyde Park Angels, I2a, REV Venture Partners — backed by RELX — and Morningstar.
Founded in 2009, YCharts currently has 65 employees. With the deal, senior leadership and staff are continuing on, according to Brown.
“We will fully shape our 2021 plan, as a near-term step toward our strategic objectives,” he said. “Underlying everything though, our vision remains the same — to enable smarter investment decisions and better client communications.”
Raymond James served as financial adviser and Locke Lord functioned as legal adviser to YCharts in connection with this transaction, according to the announcement. Oliver Wyman acted as a strategic adviser to LLR and Morgan Lewis & Bockius acted as legal advisor to LLR.
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