Private equity firm, Hg, has announced that it plans to sell its shares in Argus Media, with a return of £52m.

The sale will allow the independent provider of intelligence to the global energy and commodity markets to support its next phase of growth.

As a result of the deal, chairman and chief executive at Argus, Adrian Binks, along with existing Argus minority shareholder and global growth investor, General Atlantic, will each consolidate their stakes in Argus.

Binks, who has had management control of the firm since 1984, will continue to lead Argus and will become the majority shareholder in the company, as envisaged when General Atlantic invested in 2016.

He said: "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."

Hg invested in Argus in January 2020, acquiring half of General Atlantic’s stake, which was invested in 2016.

Following General Atlantic’s investment in 2016, Argus has more than doubled in size and has accelerated its organic growth. The firm’s revenue grew by 17% year-on-year in the last financial year, with strong momentum in energy transition products, which grew 46%.

Senior partner at Hg, Nic Humphries, added: "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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