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XIO Group Buys J.D. Power
XIO Group, a London-based buyout firm, has agreed to acquire quality survey experts J.D. Power for $1.1 billion in cash.
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XIO Group, a London-based buyout firm, has agreed to acquire quality survey experts J.D. Power for $1.1 billion in cash. The deal is expected to be finalized in the third quarter of 2016.
Power was acquired by McGraw-Hill Financial in 2005. XIO, which has ties to Chinese investors, outbid Advent International Corp., a Boston-based private equity firm, for the company. McGraw-Hill has been shopping Power since last October.
XIO was formed two years ago and has about $5 billion under management. Power was launched in 1968 by David Power and his wife Julie in their kitchen in California. The company currently operates a dozen offices around the world and generates annual revenue of about $350 million.
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