LONDON, UK: Argus Media, the global leader in energy and commodity intelligence, has announced a strategic deal to buy out Hg’s stake in the company.

Hg, the manager of HgCapital Trust plc, had invested in Argus in 2016 and will now exit with a 7% uplift over its carrying value.

The deal will make Argus’ chairman and chief executive Adrian Binks the majority owner of the company, while General Atlantic, a growth investor and existing shareholder, will increase its stake.

Argus, founded in 1970, serves over 11,000 customers in more than 160 countries and has grown its revenue every year for the last 40 years.

Adrian Binks, Chairman and Chief Executive of Argus Media, commented: “We are delighted that General Atlantic remains a committed partner to Argus in the next phase of our growth. Argus serves its customers around the world by navigating the challenges presented by the move to a sustainable future, which involves both traditional hydrocarbon and energy transition commodities. Our mission to bring transparency to these markets remains unchanged. I am pleased that Argus continues to be an independent business with many employees invested in the Company. I would like to express my thanks to the Hg team for their support and partnership which has been instrumental in helping Argus continue to grow.”

General Atlantic is a long-term partner to Argus, having initially bought its shares in 2016. Hg, a leading investor in European and transatlantic software and services businesses, invested in the Company in January 2020, acquiring half of General Atlantic’s stake. Given the continued strong performance of the Company, General Atlantic transitioned the remainder of its stake into a continuation fund in 2021 and is investing additional capital from this fund to increase its ownership.

Since General Atlantic’s investment in 2016, Argus has more than doubled in size and has accelerated its organic growth. FY2023 revenue grew 17% year on year, with particularly strong momentum in energy transition products, which grew 46%.

Gabriel Caillaux, Co-President, Managing Director, and Head of Climate and EMEA at General Atlantic, commented: “Argus has delivered highly consistent organic growth since our initial investment, while deepening its role as a critical provider of proprietary pricing data to the global energy and commodities markets. Over our seven-year partnership with the Company, Adrian and his team have demonstrated the quality of the business and their ability to deliver uninterrupted growth through any market backdrop. Looking ahead, Argus continues to capture growth opportunities created by market changes and the energy transition. We are excited to continue to work with a great team.”

Nic Humphries, Senior Partner at Hg, said: “It’s been a pleasure to work with Adrian and the broader Argus management team as they continue to build an exceptional global business serving the strategically important energy and commodities sectors, with a true long-term vision to support their ongoing evolution. We leave on a high, both delighted to return more capital back to our clients, whilst also being proud to have partnered and supported the business for the last four years. We wish the team and General Atlantic all the best for a successful future.”

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