Money

Roger Bootle’s research firm Capital Economics set for £95m sale

Economics is proving to be a profitable business for well-known City forecaster Roger Bootle, as he is set to sell his research firm Capital Economics for £95m.

Founded by Bootle in 1999, Capital Economics will be pocketed by private equity firm Phoenix Equity Partners in a deal due to be inked next week, City A.M. understands.

Phoenix will acquire a majority stake from Bootle himself and private equity investor LDC, which currently owns a minority stake having invested in the company in 2014.

When LDC invested a small sum of less than £25m, the business was valued at £70m.

Read more: Phoenix Equity Partners readies for the holidays buying a stake in cabin break business Forest Holidays

Sources told Sky News that Mr Bootle would receive cash for part of his stake and become non-executive chairman, but added he would remain a long-term shareholder.

Unlike many in the City, Bootle is staunchly pro-Brexit and has been part of groups which argue that a departure of the UK from the EU should actually lead to growth.

He has built Capital Economics into a global business, with offices in places such as the US, Australia and Singapore.

Read more: Roger Bootle of Capital Economics talks Brexit, macroeconomics and making a market for research

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Money

Roger Bootle’s research firm Capital Economics set for £95m sale

Economics is proving to be a profitable business for well-known City forecaster Roger Bootle, as he is set to sell his research firm Capital Economics for £95m.

Founded by Bootle in 1999, Capital Economics will be pocketed by private equity firm Phoenix Equity Partners in a deal due to be inked next week, City A.M. understands.

Phoenix will acquire a majority stake from Bootle himself and private equity investor LDC, which currently owns a minority stake having invested in the company in 2014.

When LDC invested a small sum of less than £25m, the business was valued at £70m.

Read more: Phoenix Equity Partners readies for the holidays buying a stake in cabin break business Forest Holidays

Sources told Sky News that Mr Bootle would receive cash for part of his stake and become non-executive chairman, but added he would remain a long-term shareholder.

Unlike many in the City, Bootle is staunchly pro-Brexit and has been part of groups which argue that a departure of the UK from the EU should actually lead to growth.

He has built Capital Economics into a global business, with offices in places such as the US, Australia and Singapore.

Read more: Roger Bootle of Capital Economics talks Brexit, macroeconomics and making a market for research

Original Article

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.