Quayle Munro is pleased to announce that it has advised FastMarkets Ltd, a leading provider of real-time metals market information, on its sale to Euromoney Institutional Investor, for approximately £13m on a cash-free, debt-free basis. The purchase enhances the depth of information that Metal Bulletin can provide its clients across the metals and mining markets supply chain. FastMarkets will become an integral part of Euromoney's extensive portfolio of digital pricing products that include Metal Bulletin and American Metal Market.
Established in 1999, FastMarkets is used by non-ferrous and precious metals traders and risk managers every day as an important workflow tool. Through its high-quality online platform, it provides over 120 proprietary price assessments, combined with exchange data including futures prices from the world's largest commodity exchanges such as the LME and the CME. It provides coverage of non-ferrous physical premiums plus supporting treasury data supported by market commentary including webcasts directly from the LME floor. FastMarkets' respected service also delivers daily technical and fundamental reports to its users.
Dominic Hall, CEO of FastMarkets, said: "We felt in safe hands from the start. The Quayle Munro team had a total grasp of our market and our place within it. Their ability to communicate the value of our business and the high quality of their support during the due diligence process were undoubtedly big factors in bringing our transaction to a successful conclusion."