MILAN CVC Capital Partners has agreed to buy Italy's Cerved from private equity peers Bain Capital and Clessidra for 1.13 billion euros (923 million pounds) as it looks to develop the credit data provider's business outside Italy.
"We look forward to support the next phase of Cerved's growth into adjacent markets as well as internationally," CVC Italy head Giampiero Mazza said in a statement on Wednesday.
Cerved is Italy's leading provider of business credit data and provides information to over 30,000 clients, including 90 percent of Italian banks and more than 80 percent of Italy's top 1,000 companies.
Europe's debt crisis has prompted many banks and businesses to seek out information on solvency-related issues to reduce risk profiles.
"Our plan is to continue pursuing the growth of the business both organically and through acquisitions," Cerved CEO Gianandrea De Bernardis said.
Cerved, with 1,020 employees, posted revenues of 292 million euros in 2012.
The deal is subject to competition clearance.
Deutsche Bank (DBKGn.DE) was lead advisor for CVC on the deal, while HSBC (HSBA.L) was lead adviser for the sellers.
Credit Suisse CSGN.VX, Deutsche Bank and HSBC committed financing for the transaction.
(Reporting by Stephen Jewkes and Antonella Ciancio; Editing by Richard Chang)