Bain Capital and WPP PLC are likely to break up and sell market research company Kantar Group, according to a Financial Times report. Both firms are looking to cash in on their investment to have the sale generate more reliable returns than waiting for a more favorable IPO market.
Bain Capital acquired a 60% stake in Kantar in 2019, valuing the company at around $4 billion, while WPP retained a minority share.
In January, Kantar sold its media division, which oversees the UK’s TV audience measurement system, to private equity firm HIG Capital for $1 billion, representing about 15% of Kantar’s revenue.
While an IPO was previously under consideration for the remaining business, the owners are now exploring sales of its major divisions, it was said. The global IPO market has struggled to recover from a post-pandemic downturn, leaving investors and buyout firms with a record number of unsold assets.
One of Kantar’s fastest-growing divisions, Numerator is likely to be sold as soon as this year. In January, Kantar merged Numerator with its Worldpanel division, creating a global consumer data company that tracks nearly 5 billion consumers across 50 markets. The combined business, which has 5,800 employees worldwide, now operates under the Numerator brand.