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New York, N.Y., March 14, 2022 – New Mountain Capital, a growth-oriented investment firm with over $35 billion in assets under management, and Endicott Capital, an investment fund focused exclusively on the information services sector, today announced the closing of the purchase of 3E from Verisk (Nasdaq: VRSK). New Mountain will serve as the control investor.
For more than 30 years, 3E has provided its clients with the necessary expertise and content to support their environmental health and safety (EHS) initiatives. The company provides market-leading data and software solutions that increase chemical and workplace safety, strengthen product safety and stewardship, improve supply chain responsibility, and enhance research and development capabilities. Among its 5,000 customers globally, 3E serves nine of the world’s top 10 chemical manufacturers, eight of the world’s top 10 retailers, and seven of the world’s top 10 pharmaceutical companies1.
Edmund Webecke, Chief Executive Officer of 3E, stated: “We are excited about our new partnership with New Mountain and Endicott. The firms bring an excellent track record of scaling data and information services businesses and will add tremendous value to 3E. Backed by the combined expertise of our new partners, we look forward to accelerating our growth initiatives to better serve our customers and partners.”
Pete Masucci, Managing Director of New Mountain Capital, said: “3E has a long history of innovation that has resulted in the development of differentiated and mission-critical software, data, and services for its clients. We believe 3E is positioned to benefit from favorable macro trends as companies strive to keep up with continuously evolving global regulations, provide a safer working environment for their employees, and focus on meeting their sustainability goals. In partnership with 3E leadership and Endicott, we look forward to investing significantly in product innovation, market expansion, and strategic acquisitions to further expand 3E’s market-leading position."
Gandharv Bedi, Director at New Mountain Capital, added: “We have tracked 3E’s success for years through New Mountain’s deep dives in the information services and EHS sectors, and have been impressed by the company’s market leading position in a large and fast growing industry. We believe that 3E plays a vital role in enabling its customers to better manage product stewardship risk and ESG initiatives, and we look forward to further expanding 3E’s value proposition to its customers and partners.”
Mike Chinn, Partner at Endicott Capital, said: “Our mission is to partner with leading companies like 3E that help their clients solve their biggest challenges via must-have data embedded in critical workflows. We are excited to work with the 3E management team and New Mountain to support the company’s next phase of growth.”
1Internal company analysis
Evercore served as the financial advisor to New Mountain and Endicott. Simpson Thacher & Bartlett and Foley Hoag acted as legal advisor to New Mountain and Endicott, respectively.
About New Mountain Capital
New Mountain Capital is a New York-based investment firm that emphasizes business building and growth, rather than debt, as it pursues long-term capital appreciation. The firm currently manages private equity, credit, and net lease real estate funds with over $35 billion in assets under management. New Mountain seeks out what it believes to be the highest quality leaders in carefully selected “defensive growth” industry sectors and works intensively with management to build the value of these companies. Additional information about New Mountain Capital is available at www.newmountaincapital.com.
About Endicott Group and Endicott Capital
Founded in 1996, Endicott Group is a New York–based investment firm with deep private equity experience. Through Endicott Capital, the firm invests exclusively in technology-enabled, B2B companies providing critical data and analytics to a wide range of sectors and end-markets. A value-added investor, Endicott brings considerable expertise to the information services sector and partners with management teams and other shareholders to build strong companies that realize their growth potential and maximize value. For more information: www.endicottgp.com.
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