Apax Global Alpha invests €21.5m in WGSN

Apax Global Alpha has invested €21.5m in trends forecaster WGSN, the closed-ended investment company confirmed on Friday.

Apax, which provides investor access to the Apax Private Equity Funds, said it had invested the money on a look-through basis.

Apax Partners announced in October that it had struck a deal worth up to £700m to acquire WGSN from listed events specialist Ascential. The Apax XI Fund completed the acquisition on Thursday.

WGSN, which was founded in 1998, provides global trend insights to the fashion, beauty, interiors and consumer technology sectors, among others.

Apax said the business had experienced "strong" growth in recent years, with a revenue compound annual growth rate of 8% from 2016 to 2022.

It continued: "In partnership with Apax Funds, WGSN will focus on enhancing and expanding its product design and consumer insight products across a wide range of consumer-facing industries."

As at 0845 GMT, shares in Apax Global Alpha were up 2% at 154.83p.