Private equity firm Cinven, which acquired CPA Global for £950 million in 2012, announced the deal today (29 August).
Stuart McApline, managing partner at Cinven, said: “Cinven acquired CPA Global because we saw an exceptional company in a highly attractive market, with an opportunity to transform the business from a service provider into a technology-led business, as Cinven has done with other successful investments, such as Amadeus.”
“During our ownership, Cinven and CPA Global's management team have driven this transformation as well as consolidated the sector through a buy-and-build strategy. CPA Global is now in a strong position to continue taking advantage of the market opportunity.”
Simon Webster, CEO of CPA Global, commented: “Cinven has provided huge support to CPA Global over the past five years. Our investment in technology has enabled us to provide an unrivalled integrated technology platform for end-to-end IP management for both corporates and law firms.”
“In addition, we have successfully built our proposition to span the entire IP lifecycle, providing products and services to customers to support innovation, ensure patent protection, and enable companies to commercialise their IP.”
He said: “We would like to thank the Cinven team and are now looking forward to the next exciting phase of our growth.”
CPA Global was recently granted a contract with the US Patent and Trademark Office, allowing it to provide full classification services to support the office.
This is on top of its current work conducting Patent Cooperation Treaty search and preliminary examination contract work for the USPTO.