B2B information. The Hearst-owned Fitch Group has agreed to acquire Fulcrum Financial Data, a provider of leveraged finance and distressed debt analysis, news and data, from the tech-specialist private equity firm Leeds Equity Partners. Fulcrum’s products include: Covenant Review, LevFin Insights, CapitalStructure and PacerMonitor. Financial terms of the deal were not disclosed, and completion is subject to regulatory approval. Fitch issues grades on bonds and other assets based on their credit risk. It is one of the big three credit-ratings firms, along with S&P and Moody’s. But it now generates more than 20% of its revenue from outside the ratings business, including the provision of fixed-income products and services to the global financial community. Fitch is the largest profit-maker in Hearst Corp which became the sole owner this year by buying the remaining 20% stake for $2.8bn from financial-services company Fimalac SA. Hearst, which bought its original interest in Fitch in 2006, increased its holdings to 80% in 2015. Although best known for its magazines and newspapers, Hearst Corp’s profits are increasingly derived from its growing business and professional digital media in healthcare, automotive – and finance.
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Fitch to acquire Fulcrum Financial Data
