PORT WASHINGTON, N.Y. (BRAIN) — A global private equity firm is in the process of acquiring The NPD Group, which provides market research and analytics to industries and clients worldwide including the U.S. bike industry.
Hellman & Friedman has made a binding offer and entered into an exclusive agreement to acquire NPD, according to an NPD Group news release. NPD Executive Chairman Tod Johnson and CEO Karyn Schoenbart would retain a minority stake and continue to serve on the NPD board of directors.
"H&F shares our focus on long-term growth and has the resources and expertise to not only continue but also accelerate NPD's momentum and long track record of success," Johnson said. "Both Karyn and I are delighted to have the opportunity to partner as minority investors alongside H&F as we work in close collaboration on a long-term strategic plan and transition over time to the next generation of NPD leadership."
Schoenbart said they expect H&F to continue NPD's "tradition of client partnership and innovation with new products, data sources, and next generation platforms to make our information even more comprehensive, accessible, and actionable."
Founded in 1966, NPD is the eighth largest market research company worldwide, with operations in the Americas, Europe, and Asia-Pacific, covering more than 20 industries. NPD has introduced numerous industry innovations in traditional and digital research methodologies.
Following completion of the notification and consultation process with NPD's employee-works council, as required by law, H&F and NPD's shareholders are expected to enter into a definitive sale agreement. The transaction is expected to close by the end of the year.
The NPD Group works closely with trade groups including PeopleForBikes on industry data. The company became more active in the bike industry after acquiring Leisure Trends in 2013.
